(nctww) -- This
month, European PP, PE and PS suppliers were able to pass their initial hike
targets for the most part, which were in excess of the rise in the February
monomer contract prices. Restricted supplies on the producers’ side, along
with strong upstream costs, which continued to rise this month, helped sellers
have an upper hand in negotiations during the month.
Feedstock costs remain firm and spot monomer prices are standing at
noticeably higher levels compared to the start of February, signaling a renewed
upward rally in March.
Although there is active buying interest from buyers, many sellers are
reluctant to give offers for high volumes these days, claiming to have
restricted quantities. According to buyers’ reports, some suppliers are refusing
to give additional volumes while some are asking for further price hikes on top
of their initial February prices.
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