November saw a mixed price picture for European standard thermoplastics. The month began with polymer producers attempting to pass through an increase in feedstock costs in full onto processors. However, very low demand and competition from imports kept a firm lid on planned price hikes.
Polyolefin prices generally followed an upward trend following six consecutive months of falling notations. Low density polyethylene and liner low density PE prices increased by 15-20 euros per metric ton after the C2 contract price was settled 35 euros per tonne higher. High density PE blow molding resin prices nudged 10 europe per tonne higher while blown film and injection molding prices were mostly rolled over. For polypropylene, specialty product prices increased by 10-20 euros per tonne while commodity product prices was largely rolled over.
PVC, polystyrene and PET prices, on the other hand, declined further. Base PVC prices dropped by 70 euros per tonne, polystyrene prices fell by 50-60 euros per tonne and PET resin prices were down by 60 euros per tonne last month.
In December, standard thermoplastic prices declined across the board as a result of lower feedstock costs and weak demand and exacerbated by converters reducing stock levels prior to end-of-year accounting.
Polyethylene and polypropylene prices had fallen by just less than the 25 euros per tonne and 30 euros per tonne respective reductions in the ethylene and propylene reference prices by mid-December. Further price concessions were expected as larger customers were to negotiate price agreements later in the month.
Base PVC prices have continued to decline with a fall of 50 euros per tonne by mid-December. Polystyrene prices saw a triple-digit reduction following the 132 euros per tonne fall in the styrene monomer reference price. PET prices plunged by a further 50 euros per tonne amid considerable market turbulence.