Polymerupdate European resin pricing, Oct. 26-30: ABS up; PS, PP, HDPE flat; LDPE, LLDPE, PVC, PET down

Polypropylene (PP) prices ended flat in Europe last week, according to Polymerupdate, with both contract and spot prices unchanged. For October, however, prices were down compared to September due to lower propylene contract values. In the contract market, homopolymer injection-grade PP was at €1055/tonne FD Northwest Europe, while PP copolymer posted o1105/tonne FD Northwest Europe. In the spot market, homopolymer injection molding was assessed at €845/tonne FD Northwest Europe, while PP copolymer prices registered €885/tonne FD Northwest Europe. A trader contacted by Polymerupdate said trends going forward remain uncertain, since PP sellers are determined not to reduce offers any further, but buyers are pushing for cuts. Giving buyers ammunition is the fact that November propylene contract price settlements of €740/tonne, are down €10/tonne from October. Ineos has said it plans to keep its PP contract prices for November stable at October levels. In plant news, Borealis’ PP plant in Schwechat, Austria was shut down due to technical problems, pulling 130,000 tonnes/yr of capacity off line.

High-density polyethylene (HDPE) injection molding contract prices were assessed at €1080/tonne FD Northwest Europe, with blowmolding and film grades at €1090 and €1070/tonne FD Northwest Europe. In the spot market, FD Northwest Europe HDPE injection, blowmolding, and film prices were assessed at €960, €930, and €960/tonne, respectively. November ethylene contracts settled last week at €833/tonne FD Northwest Europe, down €27/tonne from October. Ineos is rumored to be targeting a rollover in its PE rates for November, while some European buyers pushed for a price reduction.

Low-density polyethylene (LDPE) prices drifted lower in Europe last week, with general-purpose contracts at €1080 to €1090/tonne FD Northwest Europe and FD Italy. In the spot market, prices were down to €920 to €930/tonne FD. The price reductions were triggered by weak buying sentiment across Europe, forcing LDPE producers to drop their offer prices in an effort to keep purchase interest afloat. Also supporting the price drop was the ethylene contract price settlement at €833/tonne FD Northwest Europe for November. Producers polled said that if demand failed to lift, November output rates would have to be slashed.

Linear low-density polyethylene (LLDPE) contract prices were lower, with FD Northwest Europe at €1075/tonne, while spot prices held stable at €920 to €930/tonne FD Northwest Europe. Contract prices fell on lower November ethylene feedstock prices, but in the spot market, a slight lift in Asian demand kept prices level. LLDPE producers have said they’re prepared to reduce output if November demand fails to improve from current levels.

Polyvinyl chloride (PVC) suspension-grade prices in the contract and spot markets drifted downwards last week. Contract prices were assessed at €960 to €980/tonne FD Northwest Europe and FD Italy, with spot PVC dropping to €790/tonne FD Northwest Europe. Prices were pushed lower as PVC buying interest softened and competitively priced vinyl imports arrived from the U.S. and South American markets. In plant news, Arkema is expected to lift the force majeure on its PVC supply by the first week of November.

Polystyrene (PS) prices were flat in Europe last week, with general purpose (GPPS) contract prices unchanged at €1155 to €1165/tonne FD Northwest Europe. High-impact (HIPS) prices were assessed at €1215 to €1220/tonne FD Northwest Europe, reflecting a cut of roughly €35/tonne from September. Converters remain hopeful for a further reduction in European PS rates, citing softer upstream ethylene prices and styrene monomer (SM), as well as an anticipated decline in PS demand across the region. In the spot market, GPPS prices dropped to €980/tonne FD Northwest Europe, with HIPS falling to €1040/tonne FD Northwest Europe. In plant news, Italy’s Polimeri reportedly served a notice to France’s Total, terminating the contract to operate Polimeri’s 150,000-tonnes/yr PS unit located in Feluy, Belgium.

Acrylonitrile butadiene styrene (ABS) spot prices recorded gains, while general-purpose and natural-grade ABS contract prices were flat at €1470 to €1480/tonne FD Northwest Europe. Spot prices rose to €1100 to €1110/tonne FD Northwest Europe, due to improved demand in the markets for prompt spot parcels and gains in acrylonitrile (ACN) and butadiene feedstock. Sellers also cited improved trends in markets outside Europe, including the U.S. and Asia.

Polyethylene terephthalate (PET) bottle-grade resin was sharply down, with contract prices dropping from €1195 to €1215/tonne, to €1125 to €1145/tonne FD Northwest Europe. A PET buyer contacted by Polymerupdate said a €145/tonne drop in October paraxylene (PX) over September supported the price drop. Furthermore, decreases of more than €50/tonne were anticipated in October monoethylene glycol (MEG) contracts. In plant news, Lithuania’s Neo Group continued to keep a force majeure in effect at its PET plant in Klaipeda. The outage was declared on Oct. 4 due to technical issues. —[email protected]