LME Plastics: North America PP increases $40/t

18 April 2008 10:52  [Source: ICIS news]

LONDON (ICIS news)--North America polypropylene (PP) contracts increased $40/tonne (€25.20/tonne) this week on the London Metal Exchange (LME).

 

Asia and global PP contract prices were up $30/tonne, while the Europe contract for PP remained unchanged.

 

Linear low density polyethylene (LLDPE) contract prices remained unchanged.

 

Polyethylene (PE) producers not based in the Middle East may have to consider consolidating and reducing their commodity production if the market goes into a slight downturn in 2009.

 

LyondellBasell plans to raise its global PP compounding capacity by 33% to 1.2m tonnes/year by the end of next year to cater to rapidly growing automotive application markets, particularly in Asia.

 

Global and regional plastics futures prices from the London Metal Exchange are given in the table below. 

 

 

LME Plastics: prices

 

Date:	17 April
	PP
$ per tonne	Global	Asia	Europe	North America
Cash (B)	1,510	1,510	1,550	1,550
Cash (S)	1,530	1,530	1,570	1,570
May (B)	1,510	1,510	1,550	1,550
May (S)	1,530	1,530	1,570	1,570
June (B)	1,510	1,510	1,550	1,550
June (S)	1,530	1,530	1,570	1,570
	LLDPE
	Global	Asia	Europe	North America
Cash (B)	1,480	1,610	1,610	1,480
Cash (S)	1,500	1,630	1,620	1,500
May (B)	1,480	1,610	1,610	1,480
May (S)	1,500	1,630	1,620	1,500
June (B)	1,480	1,610	1,610	1,480
June (S)	1,500	1,630	1,620	1,500

 

B = buyers

S = sellers

 

Further details and comparisons with price data published earlier are available directly from the exchange. The LME site requires free user log-in.

 

($1 = €0.63)

By: Lucy Craymer
+44 20 8652 3214

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