European PP price hikes limited by weak demand

demand for polypropylene (PP) remains weak in Europe. The weakness is compounded by propylene feedstock prices, which, between September 2012 and January 2013, shed €70/m.t. ($94) before recovering slightly in February as the market became balanced-to-tight. However, while PP producers will likely be able to use the momentum in the propylene market to achieve increases in PP contract prices, the magnitude of the increases may be limited by the weak PP demand. Upstream pressure on PP diminished between October and January as the European monthly propylene...

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