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Imports exacerbate downward pressure on Italy’s PP, PE markets

by ChemOrbis Editorial Team -
  • 23/06/2017 (15:48)
Bearish expectations for July prevail among European PP, PE buyers in line with comfortable supply levels in Europe and lower energy costs and therefore, they have been sidelined from the market. Sellers’ attempt to attract buying interest by applying larger decreases than that of ethylene contracts did not prove fruitful either. Competitive import prices were cited as another factor weighing down on both markets.

A West European producer claimed, “We will continue to see more competitive import PP prices in the upcoming term given the current euro-dollar parity.”

In the import market, Korean PPBC injection was dealt at €1100/ton DDP Italy, 60 days, standing €50/ton below the locally held price range. Meanwhile, competitive HDPE injection and b/m from Far East Asia and the Middle East were dealt below the €1100/ton threshold at €1070-1080/ton DDP, with delivery in late July/early August, standing €30-40/ton below the locally held HDPE price ranges.

Market participant mostly expect decreases of €30-40/ton on July ethylene and propylene contracts.
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