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European PP prices fell by EUR40-80/tonne for CIS countries

October 07/2013

MOSCOW (MRC) - European producers decreased  prices of polypropylene (PP) for deliveries for the CIS markets on the back of falling feedstock costs. Thus, the price of European PP for October delivery was announced down by EUR40-80/tonne from the level of September, according to ICIS-MRC Price Report.

October contract price of propylene in Europe was agreed down by EUR40/tonne from the September level. Because of the price cuts of the feedstock European producers had to reduce PP prices for October.

The negotiation on  October European PP prices for CIS markets began this week. Some market participants said that the deals for homopolymer PP were heard n the range of EUR1,180-1,280/tonne FCA.

Deals for block copolymers of propylene (PP-block) were at EUR1,280-1,320/tonne FCA. Market participants have been slow to contract PP, on the back of the September situation when some producers cut prices for homopolymer PP to EUR1 ,210-1, 240/tonne FCA, while in the beginning of the month prices were announced at EUR1,250-1,270/tonne FCA.

Current strengthening of the Euro against major world currencies (the growth of the euro partly offset the falling PP prices) also limits the number of deals for European PP by companies from the CIS countries.
Author:Anna Larionova
Tags:Europe, SNG, PP, PP-Impact, PP-Homo.
Category:General News
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