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European polypropylene producers will find it difficult to hold prices steady

May 25/2011

(ICIS) -- Most European polypropylene (PP) producers will find it difficult to hold prices steady after the June contract price for the feedstock propylene (C3) fell by EUR 40/tonne (USD 56/tonne) from the previous month, market sources said on Wednesday. 


In addition to the feedstocks price fall, PP producers said buyers remain cautious, which has caused a slowdown in demand on a global scale and freed up the availability of certain grades.


The resulting balanced supply and reasonable demand have largely offset the pressure of imported material building on PP prices, holding May contract prices steady. However, there have been a few corrections of EUR 1020/tonne both up and down at one or two accounts as the spread of the prices narrowed.


ICIS assessed gross contract prices for homopolymer PP raffia steady at EUR 1.5401.550/tonne FD EU (Europe). These prices are subject to discounts and rebates.


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