This week, PP spot prices increased in the European region.
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1195-1205/mt FD North West Europe mark, a rise of Euro (+20/mt) from last week, while PP block copolymer grade prices were assessed at the Euro 1265-1275/mt FD Northwest Europe levels, a gain of Euro (+20/mt). An industry source in Europe informed a Polymerupdate team member, "Market players reported that a tight supply situation prevailed for copolymer, with lower avails of import cargoes exerting a bullish pricing impact on the market. Curtailed output runs by local producers are further anticipated to impact supplies. While overall demand sentiment remained bearish, the short supply condition has exerted a significant effect on the market. Import material shipments to the continent have witnessed a decline owing to freight rate spikes.”
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1500-1505/mt FD NWE Germany and FD NWE France levels, both steady week on week. PP injection moulding grade prices were assessed at the Euro 1490-1495/mt FD NWE Italy levels, stable from the previous week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1270-1275/mt FD NWE UK levels, flat from last week.
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1570-1575/mt FD NWE Germany and FD NWE France levels, both left unchanged week on week. PP block copolymer grade prices were assessed at the Euro 1560-1565/mt FD NWE Italy levels, unchanged from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1330-1335/mt FD NWE UK levels, rolled over from last week.
An industry source in Europe informed a Polymerupdate team member, " European markets saw generally quiet trading activity, with buyers reluctant to commit to transactions as key feedstock propylene price rollover led to a lack of pricing clarity for the rest of the month. Demand for material remained consistently weak, with market players gearing for the summer downturn amid seasonal holidays.”
FCA Antwerp PP homopolymer prices were assessed at the Euro 1180-1210/mt level, stable week on week, while FCA Antwerp PP copolymer prices were assessed at the Euro 1250-1280/mt levels, both gaining by Euro (+20/mt) week on week.
Upstream propylene spot prices on Thursday were assessed at the Euro 920-930/mt FD Northwest Europe levels, stable week on week.
European propylene feedstock contract price for July 2024 settled at the Euro 1105/MT FD North West Europe levels. This price represents a rollover from its June 2024 settlement levels.
