09 April 2010 10:55 [Source: ICIS news]
LONDON (ICIS news)--Forces majeures (FM) on polypropylene (PP) from INEOS and SABIC in the ?xml:namespace>
“We expect to lift it [force majeure] at the end of the month,” said an INEOS company source. Force majeure had been called in mid-March.
"Our FM will be lifted in the course of April,” said a SABIC source, commenting on the copolymer restrictions which had been in place since February.
LyondellBasell lifted force majeure from its 210,000 tonne/year unit in
PP prices had increased sharply in 2010 due to tight availability, brought about mainly by propylene restrictions.
PP prices had already risen by €200/tonne ($267/tonne) in 2010, and now a third hike, reported at €70-130/tonne, depending on the position of the market source canvassed, was being implemented in April.
Net homopolymer injection prices were trading around €1,200/tonne FD (free delivered) NWE (northwest
Many sources agreed the current price hike was due to product shortages rather than a particularly strong market.
“It’s a lousy market and we can’t even get the material to supply a lousy market,” one buyer was reported to have complained.
PP producers in
($1 = €0.75)
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