Polymerupdate global plastics pricing: Polyolefins and PET rise in Europe, Asia

Linear low-density polyethylene (LLDPE) prices edged up in Asia, with offers to South Asia above $1950/tonne CFR, according to Polymerupdate. Offers to China also firmed with ex-Taiwan prices of LLDPE at $1880/tonne FOB. Low-density polyethylene (LDPE) offers were as high as $2100/tonne CIF in South Asia, with offers to China at $1970 to $1980/tonne CFR.

Polypropylene (PP) homopolymer prices were lifted by Polymirae, with offers to China at $2050/tonne CIF. This week offers rose to $2100/tonne CIF. In related plant news in Singapore, The Polyolefins Company (TPC) plans to shutdown its PP plant with capacity of 610,000 tonnes/yr in the middle of this month, with the outage scheduled to last four weeks. Upstream, ethylene prices were assessed between $1610 to $1615/tonne FOB Korea, with propylene prices above the $1800/tonne FOB Korea mark, with CFR South East Asia prices heard above $1920/tonne CFR.

Polyethylene terephthalate (PET) contracts for June in Europe settled up between euro 50 to euro 70/tonne. For July, producers of PET are seeking a euro 100/tonne hike, with spot offers at the euro 1160/tonne FD North West Europe mark. In Turkey, Polymerupdate reports that PET prices have been hiked by $200/tonne to $2000/tonne FCA Adana, cash not including VAT.

In European news, general-purpose polystyrene (PS) prices were assessed at euro 1465/tonne FD North West Europe, while high impact contract prices were assessed at euro 1515/tonne FD North West Europe. In the spot markets, general-purpose grades in Europe rose to euro 1240/tonne FD North West Europe while high-impact prices leapt higher and were assessed at euro 1290/tonne FD North West Europe.

PP contract prices in Europe were flat, with homopolymer injection-grade PP prices at euro 1220/tonne FD North West Europe while copolymer prices were at euro 1275/tonne FD North West Europe. Spot PP prices were unchanged at euro 1180/tonne FD North West Europe for homopolymer injection grades while PP copolymer grades were recorded at euro 1230/tonne in the spot markets.

Polyvinyl chloride (PVC) suspension grade contract prices were assessed at euro 1035/tonne FD north West Europe last week. For June, sellers reported settlements in their PVC contracts up euro 15 to euro 30/tonne from May settlements for North West Europe.

High-density polyethylene (HDPE) injection-grade contract prices were assessed at euro 1330/tonne FD north West Europe, while HDPE film grade contract prices were assessed at euro 1320/tonne FD North West Europe. HDPE blowmolding grade contract prices were recorded at euro 1375/tonne FD North West Europe.

LDPE general-purpose contract prices in Europe rose to euro 1375/tonne FD North West Europe. High upstream energy costs, firm naphtha prices, and high ethylene feedstock numbers were blamed, with prices of spot LDPE also strong rising by euro 60/tonne across the region.

General-purpose and natural-grade acrylonitrile butadiene styrene (ABS) contract prices were flat at euro 1780/tonne FD North West Europe. For the month of June, however settlements were up about euro 40/tonne. Upstream, spot butadiene surged over euro 200/tonne last week in Europe. Due to that, and other factors, Polymerupdate reports that European ABS producers are targeting hikes from euro 100 to euro 150/tonne.