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Southern Africa spot prices for imported polymers up $50-100/tonne

January 26/2011

(ICIS) -- Spot prices in the southern Africa polymers markets climbed by $50-100/tonne (?37-73/tonne) for February business, as importers raised their offers on stronger sentiment and high feedstock costs, sources said on Wednesday.

The strongest increases overall were seen in the globally short polypropylene (PP) market, although low density polyethylene (LDPE), the tightest of the three polyethylene (PE) grades, also came under strong upward pressure on limited supply.

Homopolymer PP prices rose by $70-100/tonne to reach $1,500-1,600/tonne CFR (cost and freight) southern Africa, according to ICIS, while the even shorter availability of copolymer PP forced values up by $100/tonne, leaving the range at $1,650-1,700/tonne CFR southern Africa.

There was a general expectation that import prices of both PE and PP would continue to climb throughout February, as South African producers which were offering aggressive prices into the region had announced their intention to raise their competitive prices in the coming month, market sources said.


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