Brazil’s PP producers seek April price hikes
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The two polypropylene (PP) producers in Brazil, Braskem and Quattor, have announced price increases for all grades of PP amid improving demand from the automotive, home appliance and agricultural sectors.
Quattor was seeking price increases ranging from Brazilian reais (R) 100-200/tonne ($45-90/tonne, €34-68/tonne), and was said to be operating production plants at full capacity.
Braskem announced price increases of $60/tonne and said it was running production at full capacity, except for the Paulinia unit that was running at half capacity while awaiting propylene from the Replan refinery.
The proposed increases will be implemented throughout April as conditions allow.
Transformers did not like the idea of price increases, considering that demand was still under par and feedstock propylene prices were flat. However, there was little they could do to avoid the hikes because of a lack of alternatives.
Imports were perceived as more risky in recent weeks due to increased currency volatility and financial hassles.