This week, PP prices down adjusted in the European region.
An industry source in Europe informed a Polymerupdate team member, "European polypropylene spot prices continued to trend lower amid a generally bearish market sentiment. Demand for material had ebbed with ample inventories held by consumers lessening the need to purchase additional cargoes."
The source added, "Overall demand fundamentals have been weak with market sentiments not rallying in September along expected lines. With advance purchases already concluded in August and with turnarounds at crackers and refineries, many assumed price levels had hit the floor. Spot activity was largely sluggish with consumers choosing to make need-based purchases."
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1195-1205/mt FD North West Europe mark, Meanwhile, PP block copolymer grade prices were assessed at the Euro 1270-1280/mt FD Northwest Europe levels, both dropped by Euro (-15/mt) from the previous week.
Meanwhile, 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 falling by Euro (-10/mt) week on week. PP injection moulding grade prices were assessed at the Euro 1510-1515/mt FD NWE Italy levels, a drop of Euro (-10/mt) from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1270-1275/mt FD NWE UK levels, down Euro (-15/mt) from the previous week.
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1590-1595/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 1580-1585/mt FD NWE Italy levels, stable from last week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1325-1330/mt FD NWE UK levels, lower by Euro (-15/mt) week on week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1180-1210/mt level, a drop of Euro (-15/mt) from the previous week, while FCA Antwerp PP copolymer prices were assessed at the Euro 1250-1280/mt levels, a week on week decrease of Euro (-20/mt).
Upstream propylene spot prices on Thursday were assessed at the Euro 895-905/mt FD Northwest Europe levels, a gain of Euro (+10/mt) from last week.
European propylene feedstock contract price for September 2024 settled at the Euro 1095/MT FD North West Europe levels. This price represents a drop of Euro (-30/mt) from its August 2024 settlement levels.
