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Pendulum swings toward US PE buyers
HOUSTON (ICIS news)--US resin brokers are asking polyethylene (PE) buyers to name their price for spot railcars, signifying the mounting inventory pressures in the plastics industry, a buyer said on Friday.
The PE market has swung heavily in favour of buyers because of low raw material costs and because producers are anxious to clear inventory after a sharp drop in demand.
Demand has fallen by 25-30% in the past month according to several converters.
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