Polymerupdate European resin pricing, March 9-13: PE interest on the rise

Polypropylene (PP) prices ended stable in Europe last week, with traders and users saying no real buying lift was seen, according to Polymerupdate. In the contract market, PP injection prices were assessed at €800 to €810/tonne FD Northwest Europe, with  copolymer at €840 to €850/tonne FD Northwest Europe. In the spot market, prices were unchanged with PP injection grades at €700/tonne FD Northwest Europe and copolymer at €750/tonne FD Northwest Europe.

Polypropylene (PP) prices ended stable in Europe last week, with traders and users saying no real buying lift was seen, according to Polymerupdate. In the contract market, PP injection prices were assessed at €800 to €810/tonne FD Northwest Europe, with  copolymer at €840 to €850/tonne FD Northwest Europe. In the spot market, prices were unchanged with PP injection grades at €700/tonne FD Northwest Europe and copolymer at €750/tonne FD Northwest Europe. A trader contacted by Polymerupdate said producers are continuing to push a rate increase of more than €50/tonne for March, but processors remain resistant.

Low-density polyethylene (LDPE) prices edged higher in Europe last week, with general-purpose contracts at €900/tonne FD Northwest Europe. In the spot market, prices rose as well, reaching €840/tonne FD Northwest Europe. The gains in LDPE were triggered by a visible lift in purchase interest and reports of low stocks. An LDPE producer contacted by Polymerupdate said despite a dip in ethylene rates last week, he believes LDPE prices in Europe will continue to quote strongly.

Linear low-density polyethylene (LLDPE) contract prices also firmed in Europe last week, reaching €900/tonne FD Northwest Europe. In the spot market, prices were flat at €790/tonne FD Northwest Europe. Sellers here did confirm an increase in buying interest but resisted the urge to raise prices in response.

Polystyrene (PS) contract prices finished flat in Europe last week with general-purpose contracts steady at €885/tonne FD Northwest Europe and high-impact prices unchanged at €935/tonne FD Northwest Europe. March hikes of €60/tonne were abandoned, with PS producers now considering increases of €30 to €40/tonne over February settlements. In the spot market, general-purpose PS dropped to €760/tonne FD Northwest Europe, with high-impact prices assessed at €810/tonne FD Northwest Europe. In plant news, Ineos Nova has planned reductions at its 190,000 tonnes/yr PS unit at Marl, Germany and its 90,000 tonnes/yr unit in Breda, Netherlands.

Acrylonitrile butadiene styrene (ABS) contract prices finished flat in Europe, with general-purpose and natural-grade contracts at €1165 to €1175/tonne FD Northwest Europe. Automotive and construction weakness in Europe and elsewhere continue to impact ABS sales.

Polyvinyl chloride (PVC) contract prices were flat last week, with suspension-grade contracts at €715/tonne FD Northwest Europe. In the spot market, PVC prices held steady as well, with FD Northwest Europe at €530 to €560/tonne. After proposing increases of €100/tonne for their March PVC prices, producers initially lowered their sights to €50 to €80/tonne, before giving up more ground and consideration of a €30 to €50/tonne hike.

Polyethylene terephthalate (PET) producers are seeking steep increases for their March contracts, with bottle-grade PET priced last week at €1025/tonne FD Northwest Europe. In the spot market, prices were assessed at €880/tonne FD Northwest Europe. Producers are waiting to settle on key feedstocks but are pushing for increases ranging from €30 to €50/tonne. PET sellers are more ambitious, targeting hikes of €70 to €80/tonne. According to PET sellers, an announcement of a shutdown at Atenius’s PET plant in Volos, Greece has further impacted the already limited PET supply situation in Europe. mpweditorial@cancom.com

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