The Low-Density Polyethylene (LDPE) prices in the US and European markets witnessed a depreciation in November 2023 due to various factors, including feedstock costs and economic slowdown. In the US, this decline was primarily attributed to excess material inventories amid domestically and internationally sluggish demand, particularly in Asian and European markets. The European LDPE market faced subdued sentiments due to challenging economic conditions and geopolitical tensions. Further, decreasing crude oil prices globally impacted market dynamics, leading traders to adopt a cautious approach toward new orders.

Throughout November 2023, the LDPE market in the USA faced challenges as feedstock Ethylene and upstream Naphtha prices declined amid an economic slowdown and reduced crude oil prices. Domestic market demand remained steady, while export demand from Asian traders decreased, and inquiries from Latin America and Europe continued, although with reduced volumes. Export offers for LDPE emerged, prompting some producers to adjust prices downward in alignment with softer international sentiment influenced by declining crude oil prices. The energy sector exhibited mixed dynamics, with declining crude oil prices impacting LDPE production costs. As the month concluded with the Thanksgiving Holiday week, the LDPE market maintained a subdued pace, experiencing a shift in sentiment from previous upward momentum to negativity. This change was partly influenced by improved resin availability in the Polyethylene market following the end of Force Majeure at Nova and Chevron Phillips Chem plants in Sarnia, Ontario, and Orange, Texas.

In Europe, LDPE prices declined due to lower feedstock Ethylene costs and subdued demand. The decrease in feedstock Ethylene, influenced by declining upstream Naphtha and crude oil prices, eased production costs. LDPE market demand remained lackluster due to challenging economic conditions and subdued purchasing activities. The prevailing pessimistic sentiment deviated from typical demand patterns for the season. While downstream packaging sector demand remained relatively steady, there was a significant decline in buyers' interest in downstream construction businesses, aligning with a downturn in the construction sector. Heightened uncertainty from Middle East tensions further encouraged businesses and households to adopt a cautious approach in their actions and decisions.

According to ChemAnalyst, market sentiments may remain pessimistic by the end of the year in the US and European regions. Although LDPE demand may increase, it is expected to do so at a slower pace due to the challenging global economy impacting consumer sentiments. Additionally, feedstock, ethylene, and crude oil prices are anticipated to influence the LDPE price trend.