April PP prices emerging higher in Europe
A West European producer announced increases of €100/ton on their April PP prices, bringing their new gross contract prices to €1260-1270/ton for homo-PP injection and to €1310-1320/ton for PP block copolymer injection FD Germany, 60 days. A producer source commented, “We are aiming for hikes larger than the gain in propylene contracts this month due to our dwindling supply. Demand is expected to perform well so our availability is likely to tighten in the upcoming days.” However, the source did not exclude the possibility of revising their initial hike requests depending on buying interest.
A distributor in Germany lifted his April PP prices by €100/ton from last month €1140-1180/ton for homo-PP and PP block copolymer injection on FD, 60 days deferred payment basis. The seller cited tight supply as the main reason behind his hike requests being larger than the gain in propylene contracts.
A converter in Italy received initial April PP offers from two different West European suppliers at €1030-1050/ton for homo-PP and at €1080-1100/ton for PP block copolymer injection FD, 60 days. “Our suppliers are aiming for hikes of €80/ton and €100/ton from our March done deals. We feel that PP prices will register further increases in the May-June period so we are mulling over buying some import volumes,” he commented.
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