09 February 2012 21:32 [Source: ICIS news]
Propylene for February settled in US markets at an increase of 16.5 cents/lb ($364/tonne, €273/tonne). Producers in the northern hemisphere are seeking a proportional increase for PP prices.
Frequently, producers in South America reflect the changes in US feedstock prices 30 days later.
The price of injection homopolymers in Argentina fell by nearly 1%. Block copolymers also declined, but random copolymer material was unchanged, a buyer said.
Injection homopolymers are now at Argentina pesos (Ps) 9.05/kg ($2.09/kg) on average, while block copolymers sell around Ps9.70/kg, buyers said. The price of random copolymers was unchanged at Ps10.44/kg.
Market participants did not discard the possibility that the February price reduction was forced upon producers by the government, which from time to time imposes price controls to keep inflation down.
($1 = €0.75)
($1 = Ps4.34)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|