20 April 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European propylene oxide (?xml:namespace>
This is the fourth successive price increase for PO since the start of the year, and brings prices into the range of €1,630–1,740/tonne FD (free delivered) NWE (northwest
Buyers confirmed the €40/tonne increase for April. One said its formula-based April price was finalised at €1,580/tonne FD NWE, and described demand as stable and availability as good.
But another buyer said successive hikes in
Overall demand for
Offtake from the automotive industry is also strong, driven by exports of European-made cars to
There are expectations that demand from the construction sector will pick up with the arrival of warmer weather, but weakness in the wider European economy remains a concern.
In production news, reports that Shell declared force majeure on styrene last week from its styrene/PO site in Moerdijk, the
Another producer said it did not expect the force majeure would last long, and doubted that it would have a significant impact on the
Nameplate capacities at Shell Chemical’s Moerdijk site are 440,000 tonnes/year for styrene and 210,000 tonnes/year for
($1 = €0.76)
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