Buyers of polypropylene (PP) in Europe were warned of an impending significant hanging polymer prices, given the increase in propylene contract price of EUR60 per tonne, according to ICIS.

One of the market participants, it became known that some manufacturers are planning to increase prices for PP EUR80-90 per tonne.

Demand increased in April and will continue to grow, while supply may be reduced due to planned for the near future stops for repairs of some industries.

Several customers have informed that they can only rely on contract volumes during the repairs. In addition, the manufacturers generally material inventories low.

Discussions April PP prices will start this week, and several customers have said that they will have to accept the price increase, given the general upward trend in the spot market.

In Russia, according to the price review ICIS-MRC, negotiations on the level of the April contract PP prices began last week. Opinions were divided Russian producers. Ufaorgsintez Nizhnekamskneftekhim and said they plan to roll over prices for March and April. While other manufacturers are considering the possibility of rising prices for 500-1 000 rubles. per ton.

MRC