02 May 2012 22:57 [Source: ICIS news]
HOUSTON (ICIS)--Argentina polypropylene (PP) prices continued to climb in May, with a modest jump in homopolymers but a more substantial increase in copolymers, buyer sources said on Wednesday.
The increase for homopolymers was said to be around $22/tonne (€17/tonne). It was higher for small-volume buyers.
Increases heard for copolymers were steeper, ranging from $90-100/tonne, buyers said.
Demand for finished products was perceived as weakening. One transformer said plant utilisation went from 92% in March to 70% in April. Similar stories were echoed from users of other plastic resins.
Demand from the automotive sector is slightly down, and declines can be perceived in items of mass consumption, such as those found in supermarket chains, transformers said.
Sales of electro-domestic products were also down, as buyers retreated, annoyed by a sudden lack of options created by import restrictions.
Import restrictions for PP resins remain in effect, but with softer domestic demand, no shortages have been spotted.
Prior to the May increase, PP homopolymer raffia prices in Argentina were in the range of $2,038-2,106/tonne DEL (delivered), based on ICIS data.
Homopolymer injection material was at $2,117-2,151/tonne DEL. Prices for small-volume buyers could be higher.
($1 = €0.76)
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