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Title Producers post increase as prices plumb new depths
Creator/Author Young, I.
Publication Date1993 Feb 03
OSTI IdentifierOSTI ID: 6552001
Other Number(s)ISSN0009-272X; CODEN: CHWKA9
Resource TypeJournal Article
Resource RelationChemical Week ; Vol/Issue: 152:4
Subject020700 -- Petroleum-- Economics, Industrial, & Business Aspects; POLYPROPYLENE-- PRICES; EUROPE;LOSSES;MARKET;PROPYLENE;SALES
Related SubjectALKENES;HYDROCARBONS;ORGANIC COMPOUNDS;ORGANIC POLYMERS;POLYMERS;POLYOLEFINS
Description/Abstract European polypropylene (PP) producers are gearing up for yet another attempt to raise prices and stem their losses.^Despite a string of pricing initiatives throughout 1992, the oversupplied PP market continued to sink.^It slipped again in January, with many producers accusing their competitors of price cutting to raise sales volumes.^The difference this time is that all the major players have stated their readiness to hike prices, while output has been cut back considerably to reduce stocks.^Sentiment in the market is that prices simply cannot be allowed to go any lower.^Neste Chemicals (Helsinki) has led the way by announcing a 40-pfennig/kg increase, effective March 1. Sven Svensson, Neste`s v.p./PP, says the increase was announced early to allow converters to adjust the prices of their products.^Huels (Marl, Germany) has since announced a 30 pfennig-40 pfennig/kg hike for February or March, Hoechst (Frankfurt) says it will go for a similar increase March 1, Amoco Chemical Europe (Geneva) has promised a hike effective February 1, while Himont (Milan) and Brussels-based Petrofina and Solvay confirm they will also be raising prices.^There could be a greater sense of urgency now that propylene contracts have been raised for February.^The lowest PP price so far reported in Europe has been BF12.50/kg (DM0.61/kg) for raffia-grade material in Belgium.^The French market is about F2.20/kg; the UK at [Brit pounds]290/m.t.; German prices are slightly firmer at DM0.70/kg, with injection molding at about DM0.75/kg.^PP copolymer prices have fallen precipitously since early December, with German levels dropping by 20 pfennig/kg, to about DM0.90/kg.
Country of PublicationUnited States
LanguageEnglish
FormatPages: 12
System Entry Date2001 May 13

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