17 January 2014 23:59 [Source: ICIS news]
LONDON(ICIS)--The European propylene oxide (PO) January monthly contract price rose by €16/tonne in line with the feedstock formula which is 80% of the €20/tonne propylene increase, sources said Friday.
A producer said that although PO availability is currently balanced to demand, it could become tighter following upstream propylene where supply is limited in the aftermath of a strike at Total’s petrochemical plant in Gronfreville, France.
“Europe PO is very competitive right now,” the producer added. “We are seeing some good export opportunities [for PO derivatives] to the Middle East and Africa as [PO availability] in China is low now.”
Although no freely negotiated business was confirmed at the time of writing, a buyer said it is buying its PO at a price lower than the published range but declined to provide exact numbers.
It added this was due to a long-term contract negotiated with its supplier and noted it has no problems with availability.
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