Polypropylene (PP) contract prices in Europe were flat last week according to Polymerupdate, with homopolymer injection molding grades at €800/tonne FD Northwest Europe and copolymer contract prices at €840/tonne FD Northwest Europe. Prices firmed in spot markets, with homopolymer injection molding prices at €720/tonne FD Northwest Europe and copolymer hitting €770/tonne FD Northwest Europe. Polymerupdate says sellers weren’t deterred by the Easter holiday in Europe, taking their offers higher on the strength of arbitrage opportunities between Europe and Asia. A seller told Polymerupdate that “our offers to Asia are by no means cheap,” but despite that, “we are able to sell without any trouble.”
Low-density polyethylene (LDPE) contract prices were flat last week at €900/tonne FD Northwest Europe, while spot prices rose as general-purpose LDPE hit €825/tonne FD Northwest Europe. Here too, the arbitrage window to Europe allowed sellers to raise prices in spite of weak European demand.
Linear low-density polyethylene (LLDPE) spot prices also inched higher, while contract prices were flat at €900/tonne FD Northwest Europe. Polymerupdate says some producers are seeking to take April contracts higher from their March settlement, but regional LLDPE buyers were prepared to attempt to increase contract rates. In the spot market, LLDPE prices firmed to €780 to €790/tonne FD Northwest Europe.
Polystyrene (PS) prices were flat in the contract and spot markets, with general-purpose contracts at €915/tonne FD Northwest Europe, and high-impact contracts settling at €960/tonne FD Northwest Europe. In the spot market, general-purpose prices were reported at €740/tonne FD Northwest Europe, with high impact at €785/tonne FD Northwest Europe. Increases in styrene monomer are leading many PS producers to consider price increases for April, with one telling Polymerupdate it’s weighing an increase of €100/tonne over March’s settlement. The producer said if it couldn’t be fully implemented this month, it would spread it over April and May.
Acrylonitrile butadiene styrene (ABS) general-purpose and natural-grade contracts were flat last week at €1185/tonne FD Northwest Europe. Producers are pushing €50/tonne increases for April due to rising upstream costs, but weak demand could thwart and attempts at increases. In the spot market, ABS raced higher, ranging from €1230 to €1240/tonne FD Northwest Europe, a steep gain from €1165/ to €1175/tonne FD Northwest Europe the previous week.
Polyvinyl chloride (PVC) contract prices were flat last week, with FD Northwest Europe at €715/tonne. April PVC contracts are expected to roll over March settlements, but Polymerudpate says some sellers remain determined to increase contracts by at least €20/tonne. Spot PVC prices edged marginally higher last week, ranging from €550 to €580/tonne FD Northwest Europe.
Polyethylene terephthalate (PET) prices were flat, with bottle grade at €1095/tonne FD Northwest Europe. In the spot market, it was at €900/tonne FD Northwest Europe. A small increase in paraxylene was not enough to offset a sharp drop in mono-ethylene glycol. European sellers of PET polled by Polymerupdate remain confident that PET bottle grade demand would still increase in the summer months in Europe, as temperatures rise and beverage consumption lifts. —[email protected]