European PP players talk about January price hikes
A distributor in Germany commented, “We expect PP prices to post increases of up to €50/ton in January as many crackers will be off next month. Therefore, supply might get shorter.”
A reseller from Italy reported, “For January, we expect suppliers to ask for increases of €50-100/ton on their PP prices as supply is going to be short.”
A buyer heard about possible increases in January; however, they do not expect increases larger than €30-50/ton.
Market sources had previously reported that all European crackers were back online except Ineos’ Rafnes cracker. The company has reportedly resumed production at its steam cracker, which was shut in early October due to an outage after a fire at the compressor. In 2017, a number of steam crackers are expected to undergo maintenance between the March-May period.
So far this week, local PP prices are reported at €1000-1100/ton for homo-PP and at €1080-1150/ton for PPBC on FD Italy, 60 days. In Northwest Europe, PP prices stand at €1020-1130/ton for homo-PP and at €1070-1180/ton for PPBC on FD NWE, 60 days.
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