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Europe PP hits new record high

January 17/2011

(ICIS) -- Polypropylene (PP) prices in Europe have reached a new record high as producers push levels up following a hefty increase in propylene prices in a market free from the competition of imports, market sources said on Monday.

Net homopolymer injection PP prices were trading at ?1,280-1,310/tonne FD (free delivered) NWE (northwest Europe) in January but several buyers said that they were being cautious this month, despite warnings of yet more hikes in February.

Producers took a different stance when settling January business, with some settling for slightly less than the ?110/tonne ($147/tonne) increase in the propylene monomer contract price, which settled at ?1,070/tonne FD NWE.


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