European PP market changes direction on improved demand
Across the regional markets, the recent restarts of some PP plants are yet to affect supply levels for now while a force majeure decision came from LyondellBasell for their PP output from Aubette, France earlier this week. Market sources reported that the company’s 350,000 tons/year plant is expected to resume operations this week after being shut due to technical issues on October 6.
In Italy, a distributor reported that they issued a €20/ton increase on their West European PP offers compared to last week. “We raised our prices owing to supply tightness,” he said. A converter stated, “The latest PP offers we received indicate €30/ton increases when compared to our early October purchases from different West European suppliers. We are still waiting to receive our October orders. One of our suppliers said that they will have homo-PP availability later this week.”
A compounder in Italy also reported receiving €30/ton increases this week when compared to initial October levels. “Many sellers have already closed their order books and we only ordered material on a contractual basis from our regular West European supplier this month,” he added.
In France, a household products manufacturer reported that the latest October PP offers they received are €30/ton higher than the offers at the beginning of the month. The buyer commented, “We replenished some homo-PP at the beginning of the month. However, sellers have increased their prices slightly since then as supply has tightened. We see good demand for our end product nowadays.”
Meanwhile, in Germany, a distributor reported that they raised their PP offers for West European origins by €50/ton compared to their initial October level, pointing to improved demand.
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