This week, PP prices increased in the European region.
An industry source in Europe informed a Polymerupdate team member, "European polypropylene spot market prices were driven higher on the back of prevailing supply tightness, which mitigated the short-term impact of a tepid buyer interest. Market participants noted that a tight supply situation has been instrumental in bringing about an equilibrium in prices in spite of generally dampened demand and weak buyer appetite, signalling a downturn during the summer holiday in Europe. The supply constraints stemmed from delayed import shipments, the result of shipping disruptions and elevated freight rates, while consumers continued to be impeded in their efforts to procure material due to domestic outages."
The source reported, “The market situation is anticipated to improve in September, with discussions centred around managing inventories and an expected increase in import cargoes."
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1215-1225/mt FD North West Europe mark, a rise of Euro (+10/mt) from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the Euro 1295-1305/mt FD Northwest Europe levels, a gain of Euro (+20/mt) from last week.
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1520-1525/mt FD NWE Germany and FD NWE France levels, both rising by Euro (+10/mt) week on week. PP injection moulding grade prices were assessed at the Euro 1510-1515/mt FD NWE Italy levels, up Euro (+10/mt) from the previous week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1305-1310/mt FD NWE UK levels, a sharp rise of GBP (+35/mt) from last week.
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1580-1585/mt FD NWE Germany and FD NWE France levels, both gaining by Euro (+10/mt) week on week. PP block copolymer grade prices were assessed at the Euro 1570-1575/mt FD NWE Italy levels, up Euro (+10/mt) from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1355-1360/mt FD NWE UK levels, higher by GBP (+35/mt) from the previous week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1200-1230/mt level, a rise of Euro (+10/mt) week on week, while FCA Antwerp PP copolymer prices were assessed at the Euro 1280-1310/mt levels, week on week up Euro (+20/mt).
Upstream propylene spot prices on Thursday were assessed at the Euro 950-960/mt FD Northwest Europe levels, left unchanged from the previous week.
European propylene feedstock contract price for August 2024 settled at the Euro 1125/MT FD North West Europe levels. This price represents a gain of Euro (+20/mt) from its July 2024 settlement levels.
