Basell targets €75/tonne on Jan PP after Q1 C3

20 December 2007 16:27  [Source: ICIS news]

LONDON (ICIS news)--Major European polyolefins producer Basell intends to lift January polypropylene (PP) by €75/tonne in January, a company source reported on Thursday.

The news came after the first-quarter propylene settlement, which rose by €57/tonne, to €945/tonne FD (free delivered) NWE (northwest Europe).

Another major PP producer was considering a €80/tonne hike for January.

INEOS Polyolefins was already targeting to cover the full propylene hike next month.

Buyers were expecting higher prices but not to the extent publicly posted by producers.

Homopolymer injection was trading in the mid-€1,200s/tonne FD NWE on a gross basis, according to global chemical market intelligence service ICIS pricing.

($1 = €0.70)

By: Linda Naylor
+44 20 8652 3214

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