Sentiment shifting in West European PP market
The PP price ranges are quoted at €1000-1085/ton for homo-PP and at €1050-1135/ton for PPBC inj., FD, 60 days. The low ends of the ranges were reported by a French distributor who conceded to the entire propylene drop of €80/ton on his February PP prices in order to gain competitiveness.
A Belgian distributor issued discounts of only €35/ton on his February deals citing his short availability, commenting, “We have closed our order books for now and our West European supplier is mulling over increases for March.” Another distributor in Germany reported limiting his February discounts to €40/ton for West European PP due to his short supply.
Some players are voicing their expectations of seeing increases in the upcoming days even ahead of the March announcements given the recent gains in upstream markets and reduced availability. Spot naphtha prices are up by almost $25/ton on the week to reach $500/ton CIF NWE on the back of firmer crude. Spot propylene prices also inched up to be reported at €735/ton FD NWE.
A distributor in the Netherlands already reported raising his prices by €20/ton citing firmer energy costs after selling some February volumes with decreases of €70/ton from January last week.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion