Polymerupdate European Resin Pricing

12 Nov 2010 • by Natalie Aster

Polypropylene (PP) prices were flat in Europe last week, according to Polymerupdate, with the contract market for homopolymer injection molding grade PP steady at Euro 1055/tonne FD Northwest Europe. PP copolymer registered Euro 1105/tonne FD Northwest Europe. Citing a decline in propylene, buyers pushed for lower PP when November propylene contracts came in at Euro 740/tonne FD Northwest Europe. In the spot market, PP homopolymer was at Euro 845/tonne FD Northwest Europe, with PP copolymer at Euro 885/tonne FD Northwest Europe. A converter contacted by Polymerupdate stated his belief that the PP market will remain depressed for the rest of 2009, citing year-end pressures to keep stocks low and a seasonal lull in finished product demand. "Other than need-based buying," the contact said, "we do not believe converters will risk overstocking PP at current prices. Prices will correct, if not next week then the week after, but November for sure will see some price fall in PP."

Low-density polyethylene (LDPE) contract prices in Europe were down, while spot prices of general purpose grades were unchanged last week at Euro 920 to Euro 930/tonne FD Northwest Europe. FD Northwest Europe contract LDPE, however, dropped to Euro 1050 to Euro 1060/tonne, from Euro 1080/tonne FD.

Linear low-density polyethylene (LLDPE) contract prices moved lower in Europe to Euro 1030 to Euro 1040/tonne FD Northwest Europe and FD Italy. In the spot market, LLDPE's drop was stopped by some need-based buying. Spot LLDPE was unchanged at Euro 920 to Euro 930/tonne FD Northwest Europe. Contract LLDPE prices are down following a drop in November ethylene, but spot sellers of LLDPE have hiked their offers by Euro 10 to Euro 20/tonne, citing a lift in regional buying.

Polyvinyl chloride (PVC) suspension grade prices continued to slip in the spot markets, with weak demand and a fall in upstream vinyl chlorine monomer (VCM) pushing rates lower. PVC suspension-grade spot prices came in at Euro 750 to Euro 770/tonne FD Northwest Europe, with VCM dropping to $590/tonne FOB Northwest Europe. In plant news, Arkema planned to lift the force majeure on its PVC supply on Nov. 9, ceasing the action put in place following a shutdown of Ineos' Lavera Chemicals facility after a steam pipe leak.

Polystyrene (PS) prices dropped, with contract general-purpose (GPPS) prices at Euro 1150 to Euro 1160/tonne FD Northwest Europe, while high-impact (HIPS) prices came in at Euro 1210 to Euro 1220/tonne FD Northwest Europe. PS prices were impacted by lower styrene monomer contract prices, which settled down Euro 16/tonne to Euro 813/tonne for November between BASF and its contract partner Synthomer. Following this settlement, BASF announced a decrease of Euro 10/tonne in its PS gross contract price for November. Polymerupdate noted that not all PS makers are following BASF's direction, especially given the rise in November benzene contract prices by Euro 42/tonne. In the spot market, GPPS fell to Euro 960 to Euro 970/tonne FD Northwest Europe, with HIPS at Euro 1020 to Euro 1030/tonne FD Northwest Europe. In plant news, Ineos Nova is looking to shut down three of its PS plant for maintenance next year, taking its 190,000 tonnes/yr PS plant in Marl, Germany offline in April, with its 80,000 tonnes/yr plant in Trelleborg, Sweden to shut down in September, while its 190,000 tonnes/yr plant in Wingles, France to also close temporarily.

Acrylonitrile butadiene styrene (ABS) prices were lower, with general-purpose and natural-grade ABS down in the contract and spot markets. Softer upstream prices of acrylonitrile, butadiene, and SM coupled with falling ABS rates in the U.S. and Asia, wielded downward pressure on European ABS rates. Contract ABS fell to Euro 1405/tonne FD Northwest Europe from Euro 1480/tonne FD the week before. Spot ABS prices were assessed at Euro 1090/tonne FD Northwest Europe, down from Euro 1110/tonne FD Northwest.

Polyethylene terephthalate (PET) bottle-grade producers sought price hikes for November, but last week PET bottle grade contract prices were unchanged at Euro 1125 to Euro 1145/tonne FD Northwest Europe. PET makers sought the increase following an upward settlement in paraxylene (PX), which was up Euro 65/tonne from October to Euro 680/tonne FD Northwest Europe. In the spot market, bottle-grade PET prices in Europe last week were assessed at Euro 850 to Euro 870/tonne FD.

Source: PlasticsToday Staff

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