Polymer producers in Europe have been compelled to offer price concessions equal to, and in some cases, in excess of the reduced monthly feedstock contract prices as per European Plastics News. There is a general improvement in the supply situation for almost all grades, amid shortages reported for certain grades. Apart from cargoes of PVC and PET that have been imported, imports from Middle East have not been an influence, as Middle East supplies are being diverted into Asia where prices are rising. Demand was for polyolefins and PS was livelier but PVC and PET sales were weaker, mainly due to the usual seasonal downswing.
Feedstock C2 dipped by €27/ton, while LLDPE film grade was down by €40/ton, LDPE dipped by €30/ton and HDPE fell by €30-40/ton. While feedstock C3 prices dipped by €10/ton, polypropylene prices fell by €15/ton, PVC prices fell by €15-20/tonne while polystyrene dipped in line with cost of styrene monomer.