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Higher monomer contracts lend support to PP, PVC, PE prices in Italy

March 02/2012
(plastemart) -- The year 2012 has so far seen strong conditions in Europes upstream markets which continue to apply upward cost pressure on Italys polymer markets regardless of the ongoing slowness in end product businesses.

After crude oil prices on the NYMEX moved close to the USD110/bbl at the end of last week, spot monomer prices for ethylene and propylene gained strength. This is the first time that oil prices reached this threshold since May 3, 2011.

These conditions, along with the production issues at European cracker operators, have led the March propylene and ethylene contracts to settle with large price hikes for the third month in a row. The March contracts for ethylene and propylene werefully settled in Europe this week, posting monthly increases of EUR90/ton for propylene and EUR86/ton for ethylene, with the total hike amount since the start of this year reaching EUR200/ton and EUR225/ton.

Although downstream PP, PVC and PE producers are yet to officially reveal their initial March offers to Italy, buy and sell ideas clearly indicate a renewed upward rally for March, in line with players expectations.


Author:Anna Larionova
Tags:PE, PP, PVC.
Category:General News
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