European customers were placed on 80% allocation for March and this had severely limited availability, pushing prices above the cost pass through for feedstocks.

There was some discussion of how immediate an impact this would have on the market.

Contract sources were generally optimistic and thought that April contract would reflect feedstocks movements.

Suppliers pushed for greater increases in March because of tight availability.

A spot player said that it did not think there would be enough surplus to cater for the spot market and prices could continue to increase as a result.