12 April 2012 22:21 [Source: ICIS news]
HOUSTON (ICIS)--Argentina polypropylene (PP) prices were on the upswing in April, as one producer looked to offset higher propylene costs in international markets, seller and buyer sources said on Thursday.
The increase for homopolymers was said to be around $80/tonne, and higher for small-volume buyers.
Increases heard for copolymers were slightly lower, ranging from $60-70/tonne and higher for low volume sales.
There was good availability of material for all grades amid softening demand, buyers said.
A number of measures applied by the government have increased the cost of living, and the population is adjusting to the new levels by reducing demand for discretionary items.
Import restrictions will likely have a larger impact in coming months, particularly if any of the domestic plants experiences production problems.
It was not clear whether producer Petroken was having a similar increase in April. Its parent company, LyondellBassell, declined to comment on prices.
Prior to the April increase, PP homopolymer raffia prices in Argentina were in the range of $1,976-2,079/tonne DEL (delivered) (€1,502-1,580/tonne), based on ICIS data.
Homopolymer injection material was at $2,056-2,113/tonne DEL, based on ICIS data. Prices for small-volume buyers were even higher.
($1 = €0.76)
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