European PP buyers unwilling to pay increases
A West European producer is giving spot PP offers for March with increases of €20-30/ton to Italy and Germany. A producer source reported, “We are seeking to wrap up our sales as soon as we can. Some of our customers have already placed their orders and we are negotiating to set prices.”
A distributor based in the Netherlands lifted his March PP prices by €20/ton, bringing his offers to €1030-1090/ton for homo-PP and to €1100-1150/ton for PP block copolymer injection FD, 60 days. The distributor stated that he will have limited stocks in the upcoming weeks due to his West European supplier’s maintenance shutdown in April.
In Italy, a converter bought West European cargoes with rollovers from last month at €950/ton for homo-PP and at €1000/ton for PP block copolymer injection FD, 60 days. The buyer commented, “We managed to get stable prices from one of our regular West European suppliers while other producers are still pushing for increases of €30-40/ton. We built some stocks in anticipation of an upward trend in the following months.” A few other buyers reported receiving March PP offers with €20-30/ton hikes from last month, but stated that they are taking a waiting stance for now to see if they can manage to find stable offers.
A converter in Belgium expressed his buy ideas with rollovers for his March PP contracts. Another converter in France made some purchases with increases of €10/ton for March from one of his regular European suppliers at €960/ton for homo-PP and at €1010/ton for PP block copolymer injection FD, 60 days. “Other producers are still pushing for stronger hikes. We aren’t planning to buy additional volumes as we have sufficient stocks at least until mid-April. PP prices are likely to move higher next month due to firmer costs and expectations of a reduction in availability,” he commented.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?