14 September 2013 00:01 [Source: ICIS news]
LONDON (ICIS)--European polypropylene (PP) domestic prices were assessed by ICIS up €60/tonne on Friday, because of higher feedstock costs.
Polypropylene (PP) buyers were faced with price increases of €80-100/tonne from August levels following last week's settlement of the September propylene contract price at an increase of €60/tonne from August.
However, following a €50/tonne PP price hike in August, some buyers have been unwilling to accept increases greater than the monomer price rise. Others aim to limit the increases to €60-75/tonne.
September price negotiations are ongoing.
One buyer said it has settled one contract at an increase of €60/tonne from August, and is still negotiating the rest. If crude oil prices continue to soften, it will resist hikes of this level.Another is holding back from settling contracts while waiting for a clearer picture to emerge of the Syrian crisis and its impact on crude oil prices.
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