25 April 2007 15:17 [Source: ICIS news]
LONDON (ICIS news)--INEOS Polyolefins has announced a €40/tonne ($55/tonne) increase for May polypropylene (PP)business, a company source said on Wednesday.
“Product is tight and we are concerned about the cracker turnaround situation planned during the second half of the year,” he added. “Margins will be a priority over volume in May.”
PP availability has tightened considerably over the past month.
Another European producer confirmed INEOS’s statement.
“I have never experienced such a tight stock position. We have to allocate volumes this month and next, and the customers are not happy,” he said.
Buyers said it was too early to say where May prices would land but a couple admitted that availability was more limited than they had expected.
PP homopolymer prices rose by €25/tonne in April and were close to €1,200/tonne FD (free delivered) NWE (northwest ?xml:namespace>
($1 = €0.73)
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