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Braskem plans to raise prices of polypropylene (PP) from April 1 to 3 cents per pound (USD66 ton), ICIS reports with reference to the company’s letter to customers.<\/p>\nBraskem plans to raise prices of polypropylene (PP) from April 1 to 3 cents per pound (USD66 ton), ICIS reports with reference to the company’s letter to customers.<\/p>\n
Also, LyondellBasell plans to raise the price of PP by 5 cents per pound (USD110 per ton) from April.<\/p>\n
In the second half of 2017 PP producers in the US intended to raise prices by 3 cents per pound, but this could not be realized, as a sharp rise in prices during the fourth quarter led to a decrease in buyers’ margins and contributed to the fact that processors did not accept price increases.<\/p>\n
Buyers have reduced the capacity utilization and switched to import purchases in the last few months due to a sharp increase in domestic PP prices. The reduction in contract prices of PP by 6 cents per pound (USD132 per tonne) in February has been a relief for US buyers and is expected to lead to lower imports and higher capacity utilization.<\/p>\n
The February contract prices for homopolymer PP (PP homo) were agreed at the level of 71-75 cents per pound (USD1562-1650 per ton), while the contract prices of PP block copolymers were at the level of 72-76 cents per pound (USD1584- 1672 per tonne).<\/p>\n
Earlier it was reported that exports of polypropylene (PP) from the United States to other world markets increased by 13% last year compared to 2016. In December, 2017, the export of material from the country fell by 36% compared to the same month of the previous year.<\/p>\n
According to the DataScope of the company MRC, in December 2017 Russian companies went for a serious reduction in external supplies of PP, imports amounted to 10.4 thousand tons against 16.3 thousand tons. Import of homopolymer of propylene (PP-homo) of raffia and block copolymer of propylene (PP block) decreased. In general, in 2017, 171.2 thousand tons of propylene polymers were imported to Russia against 167.2 thousand tons a year earlier. A serious reduction in external supplies was recorded for PP-homo, while the largest increase in imports fell on the PP-block.<\/p>\n
The main US producers in the US are Braskem, ExxonMobil, Formosa, INEOS, LyondellBasell and Total Petrochemicals.<\/p>","protected":false},"excerpt":{"rendered":"
Braskem plans to raise prices of polypropylene (PP) from April 1 to 3 cents per pound (USD66 ton), ICIS reports with reference to the company’s letter to customers. Also, LyondellBasell plans to raise the price of PP by 5 cents per pound (USD110 per ton) from April. In the second half of 2017 PP producers […]<\/p>\n