LONDON, May 22, 2014 /PRNewswire/ --
ICIS Consulting today launches two new price forecast reports to add to its existing suite. Covering the European and US polyethylene (PE) markets, which remain volatile, these 12-month price forecasts are a valuable tool to mitigate risk and reduce uncertainty.
David Anderson, Senior Consultant at ICIS, confirms: "PE prices remain volatile - and we expect this to continue. High oil and raw materials prices, coupled with a slowing demand from developing countries and less than expected growth in the US and Canada, makes trading conditions difficult. The added supply-side pressures caused by volatile feedstock prices have compounded the problems faced by traders, producers and buyers of PE and related products.
"In both Europe and the US, prices for PE are agreed on a monthly basis, often retrospectively and with volume-related discounts. The need for more accurate forecasting of prices is imperative in a supply chain where inventories are held deliberately low to hedge against price volatility, and where powerful customers expect fixed prices for longer periods."
These new PE price forecast reports reduce uncertainty when setting contract prices, importing, budgeting or trading PE, by giving an informed view on where prices are heading over the next 12 months. An assessment of how the market is feeling about prices is also included. The ICIS Sentiment Index is based on views collated from a cross-section of PE market players and shows whether the market expects prices will be higher or lower next month and in three months.
Fabrizio Galiè, Polymers Consultant from ICIS, concludes: "These new price forecast reports are an invaluable tool designed to help PE market participants make more confident decisions in the short and mid term. Knowing which way the market is heading makes a real difference when the pressure is on."
ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information, part of Reed Elsevier Plc.
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SOURCE ICIS Consulting