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Italy’s PP market maintains upward note

by ChemOrbis Editorial Team -
  • 12/04/2016 (14:54)
In Italy, the PP market is maintaining its upward trend this week, with increases continuing to outpace the gain in the propylene contracts for April. Sellers are reporting reduced availability for certain PP grades. Meanwhile, Total lifted their force majeure on PP deliveries from Feluy, Belgium, market sources reported today. The force majeure was declared around April 6 following a strike by regional trucking companies.

A South European producer concluded some spot PP deals for April at €1150-1200/ton for PP block copolymer injection and at €1100-1150/ton for homo-PP injection FD, 60 days. A producer source reported, “We lifted our hike requests from €60/ton to €70-80/ton with respect to March. We received a good number of orders while our supply is not ample.”

A distributor is giving April PP offers at €1120/ton for homo-PP injection and at €1200-1210/ton for PP block copolymer injection FD, 60 days. “We applied up to three-digit increases for April. Our supply is short, particularly for copolymers due to a maintenance shutdown at our West European supplier’s PP plant,” he commented. Another distributor lifted his West European PP prices by €100/ton from March to €1170/ton for homo-PP and to €1220/ton for PP block copolymer injection, FD, 60 days. The distributor reported holding limited stocks, especially for homo-PP, this month.

A converter reported making some purchases for April with increases of €80/ton from his March deals at €1030/ton for homo-PP and at €1080/ton for PP block copolymer on an FD basis. The buyer commented, “We limited our purchases this month after building some stocks in the past few months so we don’t need to secure large quantities. Given the firm outlook, we are mulling over buying some import cargoes even though they are not offered at very competitive levels.”

In the import market, April offers for Indian homo-PP injection were quoted at €1050-1060/ton DDP, including 3% customs duty, 60 days. Saudi Arabian homo-PP injection was offered at €1000/ton DDP, including 6.5% customs duty, cash. For PP block copolymer injection, South Korean cargoes for early June delivery were offered at €1100-1120/ton CIF, 60 days.
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