Reversal expectation delayed to September

As the LDPE market in Italy has been on the rise for seven straight months, there are widespread complaints amongst buyers that they cannot catch up with this persistent firming trend. They continue to have great difficulties in convincing their downstream customers to come to terms with their incremental costs.
In June, sellers are asking for 30-50 euro/ton increases for LDPE based on tight supplies and some reported that they concluded deals with their initial hike targets although some sellers who asked for 50 euro/ton increases admitted that they are ready to concede to 30 euro/ton increases for LDPE and LLDPE by the end of the negotiations. Buyers, in the meantime, are bidding for smaller increases given low demand and the modest increase of the monomer contract. They are also pointing to the global downturn in the rest of the PE markets.
Sellers, in response, argue that following the increases that will pass this month, the market may stabilize in July and a reversal in market direction may reveal itself only in September after the market activity will have been mostly suspended by the holidays in August. (Source ChemOrbis)