LONDON (ICIS)--Early indications for April polypropylene (PP) monthly pricing are showing an increase, in spite of lower spot prices in some cases, sources said on Tuesday.
So far there has been little evidence of targets of €50/tonne being met, but hikes close to, and slightly above, the monomer increase of €15/tonne have been recorded.
Not all sellers were looking for plus €50/tonne, said buyers, and some were targeting plus €30/tonne.
“I have agreed plus 15 [€/tonne],” said one buyer.
“In the end I accepted plus 25 [€/tonne],” said a copolymer buyer, but only for a limited amount of product. Sources agreed there was often more upward pressure in this sector.
Business was still under discussion for the month, and some buyers said they had enough material to wait for a while before settling.
Some lower spot prices have been heard in April, in spite of the upward pressure in the monthly market.
Levels below €1,200/tonne DDP (delivered duty paid) were being offered for imported material, for end May/early June arrival, according to several sources.
PP is used in packaging, the manufacture of household goods, and also in the automotive industry.