INEOS adds €25/tonne to all Europe July PP sales
18 July 2008 13:05 [Source: ICIS news]
LONDON (ICIS news)--INEOS Polyolefins has added a supplementary €25/tonne ($40/tonne) increase to all new sales of polypropylene (PP) in July, a company source reported on Friday.
“We have closed order books on material out of Geel [Belgium] and Lavera [France],” he said. "Any prices that are not settled will be subject to an extra €25/tonne increase."
PP has risen steadily throughout July, and the €88/tonne increase in third-quarter propylene was now fully covered.
Homopolymer injection monthly prices were trading around the €1,300/tonne FD (free delivered) NWE (northwest
PP producers were considering their position for August, and Dow had already announced a €200/tonne hike for business next month.
One converter said this target was “fanciful” and it was widely considered to be ambitious.
INEOS Polyolefins produces PP from sites at Geel, Lavera, Sarralbe, also in
PP producers in
($1 = €0.63)
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By: Linda Naylor
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