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Polypropylene buyers in Europe under very strong pressure to pay higher prices

March 10/2011

(ICIS) -- Polypropylene (PP) buyers in Europe are under very strong pressure to pay higher prices as a series of record high price increases shows no signs of abating, market sources said on Monday.

Homopolymer net injection prices have approached ?1.400/tonne ($1.944/tonne) FD (free delivered) NWE (northwest Europe) and sometimes traded above this level, as producers sought to cover the ?80/tonne increase in the propylene monomer contract for March, which settled at ?1.185/tonne FD NWE.

As recently as November 2010, PP levels were at ?1.150/tonne FD NWE.

March pricing discussions were said to be tough, and so far there is no sign of any flexibility from European PP producers to their converters.

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