Polymerupdate European resin pricing, July 20-24: PP, PS, ABS, PVC up; PE, PET flat or down

Polypropylene (PP) spot prices firmed in Europe last week, according to Polymerupdate, climbing on the back of tight regional availability coupled with gains in upstream crude, naphtha, and propylene feedstock. PP homopolymer spot prices rose to €860/tonne FD Northwest Europe, with PP copolymer prices rising to €910/tonne FD Northwest Europe, both up €5/tonne from the week before. In the contract markets, PP injection grades rose to €940/tonne FD Northwest Europe, while PP copolymer prices were assessed at €990/tonne FD Northwest Europe. In plant news, Russian producer Sibur reportedly shutdown its PP plant at Tomsk for a turnaround, with the outage planned to last until mid August.

Low-density polyethylene (LDPE) general-purpose contracts were flat at €1020/tonne FD Northwest Europe, but European LDPE producers are targeting price hikes for August given the tightness in regional product availability and expectations of a higher settlement in August ethylene contracts. LDPE prices were also flat at €940/tonne FD Northwest Europe. Polymerupdate noted that sellers who were not pressured by building inventories were more ambitious with their offers and priced them at €960/tonne FD Northwest Europe mark and higher. Dow Europe announced a €60/tonne hike for its August PE prices in an effort to improve margins.

Linear low-density polyethylene (LLDPE) prices ended flat in Europe last week, with contract prices unchanged from the week before at €1010/tonne FD mark, with spot prices flat at €930/tonne FD. Dow has announced an increase of €60/tonne for its August prices.

Polystyrene (PS) contract prices edged higher in Europe, with general-purpose PS at €1155/tonne FD Northwest Europe and FD Italy and high-impact PS reaching €1205/tonne FD Northwest Europe and FD Italy. The increase was supported by run cuts at PS facilities across the region, with Ineos Nova further slashing output at its 80,000 tonnes/year plant in Trelleborg, Sweden.

Acrylonitrile butadiene styrene (ABS) contract prices firmed last week, with general-purpose and natural-grade contracts reaching €1340/tonne FD Northwest Europe and €1340/tonne FD Italy. European ABS producers say they successfully implemented July hikes of €100/tonne, as buyers accepted the increase given strength in upstream prices. In the spot market, general-purpose and natural-grade ABS prices were flat at €1100/tonne FD Northwest Europe.

Polyvinyl chloride (PVC) suspension-grade spot prices climbed once again in Europe last week, rising on reports of the force majeure declaration by Ineos ChlorVinyls and a shutdown at Solvin’s PVC plant. Spot PVC prices rose to €770-€790/tonne FD Northwest Europe, while in the contract market, PVC suspension-grade prices were unchanged at €790/tonne FD Northwest Europe.

Polyethylene terephthalate (PET) bottle-grade prices softened in Eastern Europe, with contracts at €1170/tonne FD Northwest Europe. In the spot market, prices were assessed at €900-€940/tonne FD Northwest Europe. Some PET sellers reported having a hard time finding buyers as they competed against cheaper PET from Asia, particularly South Korea. In the spot market, offers were mostly heard at $960/tonne FD and higher in Northern Europe, while in Spain, prices were above $1000/tonne FD. PET was cheapest in Eastern Europe with rates heard at €900/tonne FD and lower. Outages have played a part, with local PET maker Novapet shutting down its 130,000 tonnes/year plant in Barbastro for a few days due to an electrical problem. Elsewhere, Artenius’s 100,000 tonnes/year PET facility has restarted but not at full output. [email protected]

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