Tight supply pushes European PPRC pipe type 3 prices up in Turkey
February propylene settlements, which were agreed €45/ton higher from last month, is cited as another factor pushing PPRC pipe type 3 prices up.
A pipe manufacturer commented, “Supply is limited from Europe as LyondellBasell declared a force majeure while Borealis and Repsol also limited their allocations. It is hard to obtain the previous levels of €1320-1330/ton CIF Turkey, cash no duty.” Import European PPRC type 3 prices are currently reported at €1350-1380/ton. Late last week, offers were standing at €1315-1320/ton with the same terms.
According to a different manufacturer, prices are supported by both higher monomer settlements in Europe and Petkim’s PP price hikes on Monday. The buyer stated, “Asian players have returned to the market following Lunar New Year holiday in China on a firm note due to strong upstream costs.
Therefore, we do not expect to see any downturn in prices for the near term. However, buyers will try to show resistance to the higher offers. Yet, European suppliers claim that the market is tight due to LyondellBasell’s force majeure, which is making it hard to negotiate with them.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers