LONDON (ICIS)--The majority of European plasticizer market participants indicated on Wednesday that February prices are stable following the rollover of the feedstock propylene contract, although there were exceptions.
A dioctyl terephthalate (DOTP) producer described the market as oversupplied, even though demand is good and some deliveries of Asian imports have been delayed. Prices are under pressure in Italy, the source noted.
Another plasticizers producer said it had agreed to some reductions of €10/tonne. A dioctyl phthalate (DOP) producer said it was unable to raise its prices this month because grades such as diisononyl phthalate (DINP) are competitively-priced.
Margins are poor and demand is lower than it was in the same period of 2013, in spite of the current mild weather, the source observed.
A reseller said that prices have weakened as a result of strong competition among suppliers and imports arriving from Turkey and east Asia.
A buyer of DINP and DOTP said that demand is strong and could pick up further when spring arrives.
In the UK, one buyer said it had secured February price cuts of €20/tonne for its DINP and dipropyl heptyl phthalate (DPHP) purchases on good availability and lower orthoxylene (OX) costs.
A DOTP consumer said it had received rollovers from two suppliers and a £10/tonne increase from a third.
Spot prices were assessed unchanged by ICIS on Wednesday at €1,510-1,540/tonne FD NWE for DOP, €1,530-1,570/tonne for DINP, €1,585-1,615/tonne FD NWE for dipropyl heptyl phthalate (DPHP) and €1,500-1,550/tonne FD NWE for DOTP.