This week, PP prices slipped in Europe.
An industry source in Europe informed a Polymerupdate team member, “A bearish pricing sentiment prevailed in the European PP market as demand weakened ahead of winter. A moderate rise witnessed in consumer activity over the last two months has ebbed considerably, with a large number of market participants procuring inventories prior to the onset of winter and making purchases on a need-based basis.”
The source added, “Prices further trended lower as sellers were keen on destocking their excess inventories ahead of the winter season typically marked by depressed demand sentiments.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1125-1135/mt FD North West Europe mark, a decline of Euro (-30/mt). PP block copolymer grade prices were assessed at the Euro 1175-1185/mt FD Northwest Europe levels, week on week sharply lower by Euro (-40/mt).
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1420-1425/mt FD NWE Germany and FD NWE France levels, both fallen by Euro (-20/mt) from the previous week. PP injection moulding grade prices were assessed at the Euro 1410 1415/mt FD NWE Italy levels, a drop of Euro (-20/mt) from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1235-1240/mt FD NWE UK levels, week on week down by GBP (-15/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1500-1505/mt FD NWE Germany and FD NWE France levels, both lower by Euro (-20/mt) from last week. PP block copolymer grade prices were assessed at the Euro 1490-1495/mt FD NWE Italy levels, a drop of Euro (-20/mt) from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1305-1310/mt FD NWE UK levels, down GBP (-15/mt) from last week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1110-1140/mt levels, a week on week fall of Euro (-20/mt), while FCA Antwerp PP copolymer prices were assessed at the Euro 1160-1190/mt levels, a sharp week on week drop of Euro (-40/mt).
Upstream propylene spot prices on Thursday were assessed at the Euro 875-885/mt FD Northwest Europe levels, week on week rise of Euro (+15/mt).
Propylene feedstock contract price for November 2023 settled at the Euro 1080/MT FD North West Europe levels. This price represents a sharp drop of Euro 40/mt from its October 2023 settlement levels.
