European PP market under pressure from tight supply
In Italy, a distributor concluded some March PP deals with hikes of €175/ton compared to early February levels at €1250/ton for homo-PP and at €1300/ton for copolymers FD, 60 days deferred payment. The distributor said that he could procure limited volumes from his West European supplier this month. An agent of another West European producer added, “We issued hikes of €130/ton on our March PP deals. Our supplier provided us less than half of our regular allocation and we are almost sold out.” The distributor’s done deal levels are at €1200-1210/ton for homo-PP and at €1250-1260/ton for copolymers with the same terms.
A converter paid increases of up to €150-160/ton for March and claimed that some of his orders were cancelled due to short supply for PP. The buyer added that his end product demand is performing well.
In Germany, a distributor issued additional hikes of €40/ton on his March PP prices, bringing his total increase amount to €140/ton compared to the beginning of February. The seller’s latest PP prices are at €1210-1220/ton for homo-PP, at €1260-1270/ton for PP block copolymer injection and at €1310-1320/ton for random copolymer injection, all on an FD Germany, 60 days deferred payment basis. “Supply is short while demand is good. Buyers are worried about the persistent tightness. Our supplier informed us that they would close their order books soon,” he commented.
In Belgium, a distributor who concluded some March deals with increases of €100-120/ton at €1130-1170/ton for homo-PP and €1180-1220/ton for copolymers FD, 60 days, reported, “Availability is short and some producers have already closed their order books. We think that PP prices are likely to register further gains in the second half of the month as demand is performing well amidst tight supply.”
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