12 December 2008 16:02 [Source: ICIS news]
“We need to generate a decent margin in the business,” said the source.
PP prices have plummeted in the fourth quarter, as supply has outstripped demand and export possibilities have been few and far between.
PP homopolymer injection spot prices have fallen to €600/tonne ($800/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
The fourth-quarter propylene contract price stood at €953/tonne FD NWE.
A decrease of €300-500/tonne was under discussion for first-quarter propylene.
“We will continue to run at reduced rates in January and will adapt supply to demand,” the LyondellBasell source said.
LyondellBasell has PP capacity at Knapsack and Wesseling in
PP and PE producers in
($1 = €0.75)
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