LME Plastics: June PP loses $20 to $1,260/tonne

25 May 2007 16:28  [Source: ICIS news]

LONDON (ICIS news)--Polypropylene futures prices fell on the London Metal Exchange on Friday, with the exchange’s official price losing $20 to $1,260/tonne. Forward prices for the polymer were also lower.

The exchange’s official linear low density polyethylene (LLDPE) price was unchanged at $1,220/tonne but official bid and offer prices for July and August LLDPE contracts were marginally higher.

July official LLDPE prices were down but August official prices were higher.

The June contracts for both polymers had closed unchanged, at $1,270 for PP and $1,210 for LLDPE, on Thursday. Two lots of PP were traded on Thursday but no LLDPE, according to broker reports.

Producers and buyers of PP in Europe were expecting price hikes in June.

Date:		Contract:
25 May 2007		LLDPE				PP
LME reference price		1220				1260
Forward prices		Bid		Offer		Bid		Offer
June 2007		1200		1220		1240		1260
July 2007		1210		1230		1255		1275
August 2007		1220		1240		1270		1290

 

The LME official or reference prices are the offer prices for the first forward delivery month – in this case June 2007. Bid/offer prices are given in the table above for three forward months.

 

Prices shown are per tonne on a FOT (free on truck) basis delivered Rotterdam/Antwerp, Singapore and Houston.

 

($1 = €0.74)

 

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