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Good Afternoon and welcome to the ICIS lunchtime bulletin for Europe. I’m Mark Victory and
here are your top stories for Friday 7 December.
An initial European MEG December contract has been agreed at a decrease of twenty-two
euros per tonne the producer involved in the settlement said on Friday.
In other news, Turkish PE and PP buying activity resumed this week because of restocking, following
a very slow period that has lasted several weeks, and prices are higher
HDPE and PP prompt availability is particularly scarce.
HDPE exports from Iran have been heavily reduced since the country's government imposed an
export ban on 30 October, and while some material has been making it into Turkey, mainly by
truck, volumes are still restricted. Port congestion in Saudi Arabia has also played
an important role in limiting volumes into Turkey, but some sellers are now said to be
avoiding the congested ports and sources expect deliveries to improve in the coming days.
Turning to the markets, and crude oil futures were largely steady on Friday due to unchanged
fundamentals.
Those are your top stories for this lunchtime. Please join us again at the same time on Monday
or catch up with breaking news at icis.com. For ICIS, here in London, I’m Mark Victory,
Tags: MEG, Turkey, PE, PP, HDPE, polyethylene, polypropylene, high-density polyethylene,
monoethylene glycol, EG, ethylene glycol, ICIS, chemicals, crude.