Basell to raise PP prices by Euro75/tonne from 1 Sep

17 August 2001 17:06  [Source: ICIS news]

LONDON (CNI)--Europe's largest polypropylene (PP) producer Basell is to increase its prices for the third time this year in a bid to boost profit margins.

A spokesman told CNI on Friday that it aims to raise prices from 1 September by Euro75($67) a tonne (DM0.15/kilogram), a hike of about 10%.

Basell last announced a PP price rise in May when it told customers that its Moplen and Novolen grades would cost up to Euro50/tonne more from 1 June.

In March, the company raised its Moplen and Novolen prices by DM0.10-0.15/kilogram (Euro45-Euro67/tonne).

Basell is a 50:50 polyolefins joint venture owned by German chemical giant BASF and Anglo-Dutch oil and chemicals group Shell.

By: Russell Ong
+44 208 652 3214

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