European polyethylene and polypropylene spot markets are continuing to shrug off disruption to supply caused by strikes in France, amid comfortable inventories, sources said Wednesday.
Propylene and ethylene contract prices for June settled at Eur652.50/mt ($728/mt) FD NWE and Eur935/mt, respectively last week, up Eur17.50/mt and Eur25/mt month on month.
European PP spot prices were assessed Tuesday at Eur1,050/mt FD NWE, the lowest since early April. LDPE spot prices were assessed at Eur1,340/mt FD NWE, a continued low since April.
One LDPE buyer said while there had been delays following the strikes in France, there were no issues with availability.
Sources said imports had also boosted supply in Europe. For instance, EU imports of PE in the first quarter were up more than 50% year on year.
Ineos and Total have both declared force majeure on PE and PP supplies from France as a result of the ongoing strikes, now well into their second week.
