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European PP buyers unwilling to pay increases

by ChemOrbis Editorial Team -
  • 08/03/2016 (14:43)
The European PP market is seen tracking a stable to firmer trend this week. Some sellers are determined to achieve their modest hike targets, pointing to the planned outages in the region, while buyers are reluctant to pay higher prices.

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.
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