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PP sellers trim initial hike requests in Europe

by ChemOrbis Editorial Team -
  • 13/09/2016 (14:56)
The European PP market remains firm this week as talk of reduced availability lends support to higher prices to some extent. However, hike requests reaching up to €50/ton saw resistance from most buyers given the €20/ton gain in propylene contracts so smaller increases are passing on September PP deals.

A distributor in Germany toned down his hike requests from €40-50/ton to €20-25/ton, bringing his most recent September offers to €1170/ton for homo-PP injection and to €1220/ton for PP block copolymer injection FD, 60 days. “We revised our initial September offers due to slow demand as buyers showed resistance to hike requests beyond €20/ton. Meanwhile, one of our West European suppliers is experiencing supply issues due to a maintenance shutdown,” he commented.

In the Netherlands, a distributor concluded some September deals for West European homo-PP with rollovers to increases of €20/ton from August at €1080-1100/ton FD, 60 days. The seller is continuing to offer West European PP block copolymer injection up €40/ton from last month at €1200/ton with the same terms. “PP offers didn’t register any significant changes in the Benelux. Demand is calm so we stepped back from our initial hike targets of €40/ton for homo-PP,” he noted. Another distributor is offering locally-held South Korean PP block copolymer injection at €1200/ton FD, 60 days while he is yet to conclude deals due to sluggish demand.

A buyer in Switzerland settled his September PP contracts up €30/ton from August for West European origins.

In Italy, a distributor is giving West European PP offers with increases of €20/ton for September even though his supplier is maintaining their hike requests of €40/ton. According to the seller, demand is stagnant. Another distributor applied increases of €30/ton on his September PP prices despite his supplier’s official hikes of €40/ton. The seller’s most recent offers are at €1110-1120/ton for homo-PP injection and at €1180/ton for PP block copolymers. “Our supplier has lifted their force majeure declaration. However, our availability is still limited for copolymers so our prices should be above €1200/ton for this product,” he reported.

A compounder received September PP offers up €20/ton from August and reported hearing about dwindling availability.

Another buyer purchased West European and locally-held non-European homo-PP injection at €1000-1020/ton on an FD basis, up €20-30/ton from last month. The buyer reported hearing talks of a Central European producer’s force majeure declaration on PP.
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