Polypropylene (PP) contract prices in Europe were flat last week at euro 940/tonne FD Northwest Europe for homopolymer injection grades with copolymer prices at euro 990/tonne FD Northwest Europe, according to Polymerupdate. PP climbed in the spot market, with homopolymer injection grades at euro 865/tonne FD Northwest Europe, and PP copolymer prices at euro 915/tonne FD Northwest Europe. Local avails of PP were tight on account of reduced run rates at various regional plants. Producers are planning big hikes for August, with LyondellBasell and Ineos proposing increases of e 70/tonne in their August contract prices, citing rising feedstocks. In plant news, Ineos announced last week that its PP line at Sarralbe, France was closed following the explosion at Total’s Carling cracker on July 15. The 65,000-tonnes/yr plant sourced its propylene from the effected Total facility.
Low-density polyethylene (LDPE) prices ended flat, with general-purpose LDPE contract prices at euro 1020/tonne Northwest Europe and LDPE spot prices at euro 940/tonne FD Northwest Europe. Sellers polled were seeking hikes in LDPE following a rise in the August ethylene contract, which settled euro 10/tonne higher last week at euro 795/tonne FD Northwest Europe.
Linear low-density polyethylene (LLDPE) prices were unchanged, with contract prices at euro 1010/tonne FD Northwest Europe, while spot prices were assessed at euro 930/tonne. A seller contacted by Polymerupdate said his company had achieved increases of euro 100/tonne in July over June, and the company is considering an increase of at least euro 50/tonne in August. In accordance with that sentiment, Ineos announced an across-the-board hike in its August PE prices of euro 50/tonne.
Acrylonitrile butadiene styrene (ABS) contract prices were unchanged from the week before at euro 1340/tonne FD Northwest Europe. Producers polled indicated that they plan steep hikes for August to recover margins. Upstream, demand for acrylonitrile was strong in Europe with prices at $1280/tonne CIF Med. Butadiene prices rose to euro 750/tonne FD Northwest Europe, while styrene monomer came in at $1170/tonne FOB Rotterdam. In the spot market, ABS prices firmed, reaching euro 1110 to euro 1120/tonne FD Northwest Europe.
Polyvinyl chloride (PVC) prices rose in Europe last week, with suspension-grade PVC at euro 875/tonne FD Northwest Europe. FD Italy contract prices were assessed at euro 885/tonne, with prices in that country higher due to uncertainty regarding the future of Italian PVC producer Vinyls Italia. Ethylene contracts for August settled at euro 795/tonne FD Northwest Europe, up euro 10/tonne from July. In the spot market, PVC prices rose sharply to euro 820/tonne FD Northwest Europe as demand improved. PVC producers are planning steep hikes for August, with more ambitious sellers targeting increases of euro 100/tonne.
Polyethylene terephthalate (PET) bottle-grade prices were flat in the contract and spot markets, with FD Northwest Europe settled at euro 1170/tonne contract and euro 940/tonne FD spot. PET sellers plan to push offer rates higher. News that La Seda permanently shut down its terephthalic acid (PTA) plant in Wilton, UK and sold off four of its PET plants resulted in increased buyer speculation in August. The four PET plants included were: Portalegre, Portugal (70,000 tonnes/yr); Volos, Greece (80,000 tonnes/yr); Adana, Turkey (120,000 tonnes/yr); and Acerra, Italy (150,000 tonnes/yr). —email@example.com