Polypropylene (PP) ended flat in Europe last week, while producers are targeting hikes for June, according to Polymerupdate. Contract PP injection prices were assessed at €810/tonne FD Northwest Europe, with spot prices at €720/tonne FD Northwest Europe. PP copolymer contract prices registered €850/tonne FD Northwest Europe, while spot prices came in at €770/tonne FD Northwest Europe. Domestic PP buying interest was thin, with seller attention largely focused on exports. Propylene feedstock firmed in Europe, pushing PP producers to target hikes for June. Borealis announced a €60/tonne increase in PP prices effective June 1, with Polymerupdate expecting others to follow.
Linear low-density polyethylene (LLDPE) prices finished lower in the contract and spot markets, even though ethylene prices rose. Contract prices were assessed down at €890/tonne FD Northwest Europe, while spot prices dropped to €760-€770/tonne. Sellers linked the price fall to weaker buying trends and a drop in prices in Asia, with export opportunities rapidly shrinking. PE producers in Europe remain determined to hike prices, with Dow Europe announcing an increase of €50/tonne in its PE prices, and Borealis calling for a €60/tonne hike.
Low-density polyethylene (LDPE) general-purpose contracts were unchanged at $910/tonne FD Germany, while prices on an FD Italy basis were flat at €905/tonne. Spot LDPE dropped to €750-€760/tonne FD Northwest Europe. Despite the fall, producers are pushing increases, with Dow Europe announcing an increase of €50/tonne in its LDPE rates, and Borealis targeting an increase of €60/tonne.
Polyvinyl chloride (PVC) contract prices in Europe rose, with suspension grades at €730/tonne FD Germany while FD Italy prices were assessed at €725/tonne. European PVC makers are targeting hikes between €100-€120/tonne FD. In the spot market, PVC prices rose to €580/tonne FD Northwest Europe.
Polystyrene (PS) contract prices were flat, with general-purpose PS steady at €1015/tonne FD Northwest Europe, and high-impact PS prices at €1065/tonne FD Northwest Europe. These settlements represented an increase of €30-€50/tonne from April. In the spot market, GPPS was unchanged at €810/tonne FD Northwest Europe, with HIPS prices at €860/tonne FD Northwest Europe.
Acrylonitrile butadiene styrene (ABS) general-purpose and natural-grade contracts rose, reaching €1200-€1210/tonne FD Northwest Europe. For June, Dow announced plans to increase its ABS and SAN prices by €90/tonne in Europe, the Middle East, and India. In the spot market, ABS was assessed at €1040/tonne FD Northwest Europe.
Polyethylene terephthalate (PET) bottle-grade contracts recorded steep gains, with FD Northwest Europe prices hitting €1150-€1170/tonne. In the spot market, bottle-grade PET was flat at €930-€960/tonne FD. The price increases were triggered by higher raw material costs. —[email protected]