Polypropylene (PP) prices quote lower in Europe

This week, PP prices decreased in the European region.

An industry source in Europe informed a Polymerupdate team member, "A weak demand sentiment permeated the European PP market. The downtrend in prices was also triggered by excess supply avails in the region coupled with lower offers from overseas suppliers."

The source added, “A sharp fall in upstream propylene contract values also exerted a bearish pressure on prices. A few market participants opined that a slight uptick was witnessed in the regional purchase pulse with buyers making need-based purchases to maintain sufficient inventories for H2 2023.”

In the spot markets, PP injection moulding grade prices were assessed at the Euro 985-995/mt FD North West Europe mark, a fall of Euro (-10/mt) from the previous week, while PP block copolymer grade prices were assessed at the Euro 1045-1055/mt FD Northwest Europe levels, week on week lower by Euro (-20/mt).

In the contract markets, PP injection moulding grade prices were assessed at the Euro 1360-1365/mt FD NWE Germany and FD NWE France levels, both dropped by Euro (-10/mt) from last week. PP injection moulding grade prices were assessed at the Euro 1350-1355/mt FD NWE Italy levels, a week on week drop of Euro (-10/mt). Meanwhile, PP injection moulding grade prices were assessed at the GBP 1160-1165/mt FD NWE UK levels, down GBP (-20/mt) from the previous week.

In the contract markets, PP block copolymer grade prices were assessed at the Euro 1430-1435/mt FD NWE Germany and FD NWE France levels, both week on week decreased by Euro (-10/mt). PP block copolymer grade prices were assessed at the Euro 1420-1425/mt FD NWE Italy levels, a fall of Euro (-10/mt) from last week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1220-1225/mt FD NWE UK levels, a week on week slip of GBP (-20/mt).

FCA Antwerp PP homopolymer prices were assessed at the Euro 970-1020/mt levels, lower by Euro (-10/mt) from last week, while FCA Antwerp PP copolymer prices were assessed at the Euro 1030-1060/mt levels, down Euro (-20/mt) from the previous week.

Upstream propylene spot prices on Thursday were assessed at the Euro 485-495/mt FD Northwest Europe levels, a week on week spike of Euro (+55/mt).

Propylene feedstock contract price for July settled at the Euro 1000/MT FD North West Europe levels. This price represents a sharp fall of Euro 50/MT from its June settlement levels.