This week, PP prices down adjusted in Europe.
An industry source in Europe informed a Polymerupdate team member, “The PP market in Europe is in the grip of tough conditions brought on by excess supply avails. The situation has further been exacerbated by the upcoming Christmas holidays, typically considered a lean demand season when convertors wind down their operations. Meanwhile, market players have been particularly focused on fulfilling their contractual obligations as the year draws to a close."
The source added, “Industry players anticipate the weak market fundamentals to extend into 2024.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 985-995/mt FD North West Europe mark, and PP block copolymer grade prices were assessed at the Euro 1065-1075/mt FD Northwest Europe levels, both week on week declined by Euro (-30/mt).
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1310-1315/mt FD NWE Germany and FD NWE France levels, both falling by Euro (-10/mt) from last week. PP injection moulding grade prices were assessed at the Euro 1300- 1305/mt FD NWE Italy levels, a drop of Euro (-10/mt) from the previous week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1130-1135/mt FD NWE UK levels, a marginal week on week fall of GBP (-5/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1390-1395/mt FD NWE Germany and FD NWE France levels, both dropped by Euro (-10/mt) from last week. PP block copolymer grade prices were assessed at the Euro 1380-1385/mt FD NWE Italy levels, a fall of Euro (-10/mt) from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1200-1205/mt FD NWE UK levels, down GBP (-5/mt) from last week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 970-1000/mt levels, while FCA Antwerp PP copolymer prices were assessed at the Euro 1050-1080/mt levels, both lowered by Euro (-30/mt) from the previous week.
Upstream propylene spot prices on Thursday were assessed at the Euro 780-790/mt FD Northwest Europe levels, a week on week gain by Euro (+15/mt).
Propylene feedstock contract price for December 2023 settled at the Euro 1050/MT FD North West Europe levels. This price represents a drop of Euro 30/mt from its November 2023 settlement levels.
