Production cutbacks, reduced stocks and plant turnarounds have left petrochem producers with very little surplus inventories, curtailing availability of thermoplastics in Europe. This led to the realization that prices are poised to rise. The processors flocked to build stocks, but were met limited success. This has led to an upward price reversal this month, predicted to continue into September.
Polystyrene recorded highest gains with an increase of nearly 18% since the end of June, while LLDPE prices increased by 10%. HDPE and PP prices spiked by about 7-8 %, while PVC prices that fell in July, gained by 5%. A €50-100/ton hike is anticipated for polyolefins and polystyrene in September, as several crackers and polymer plants have been shutdown for planned maintenance this month and the supply situation is not expected to ease soon due to this.
22-Aug-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}