Decreases gain steam in Europe’s PP, PE markets as costs tumble
Fresh PP, PE offers are reflecting monomer drops of €75/ton for ethylene and €80/ton for propylene in most cases. July drops pushed spot prices to multi-year low levels.
Accordingly, homo PP and PPBC inj. prices both in Northwest Europe and Italy hit their lowest levels not seen since November-December 2017, according to the weekly average data from ChemOrbis Price Index.
Data also reveal that LDPE and LLDPE prices retreated to the lowest level since late February-early March this year. In Northwest Europe, HDPE prices stand at their lowest levels since mid-August 2017 for film, b/m and injection grades, moreover.
On a side note, spot LLDPE film prices have recently hit the €980/ton threshold in Italy. This level stands below the monthly ethylene contract level.
Buyers wonder if they can achieve additional drops on top of the monthly monomer decreases as the month wears on. They argued that higher PE stocks on the sellers’ side might convince them to negotiate. End product demand is slow in certain sectors, with buyers sticking to their hand-to-mouth purchases, which is also leading to piling stocks ahead of the nearing summer holiday.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
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