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PP export prices to move down in the European market

December 15/2011

(MRC) -- Low demand for polypropylene (PP) in the domestic market amid oversupply makes European producers increase exports at any cost, even by means of a serious decline in prices. The weakening of EUR against USD makes the task easier for European producers, according to ICIS-MRC Price Report.

PP export prices keep coming down in the European market

PP prices in Europe reached the peak in May, followed by their gradual decline. The debt crisis in Europe and the subsequent decline in demand for PP forced European producers to cut back production volumes significantly.

However, by mid-December, despite a significant reduction in PP production loading, European market had demonstrated a surplus in supply.

Excess of PP in the domestic market forces European producers to increase export sales by a serious decline in prices.

By this week the European export prices of PP for CIS markets had achieved the following levels: raffia was offered on average for EUR1,000-1,030/tonne, FCA, injection molding PP-homo - on average for EUR1,030-1,080/tonne, FCA. Export quotations of copolymers of propylene seriously decreased too. Prices of block copolymers of propylene start from EUR1,100/tonne, FCA, statistical copolymer of polypropylene - on average by EUR20-40/tonne more expensive.

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