MOSCOW (MRC) -- European polypropylene (PP) producers have reduced prices following lower prices for propylene, according to ICIS-MRC Price report.
November contrast PP prices in Europe were agreed by EUR30/tonne lower from October. European producers announced PP price cuts for the CIS markets by EUR30-40/tonne amid lower feedstock prices.
Deals for European homopolymer of propylene (homopolymer PP) to be shipped in November were being negotiated in the range of EUR1,130-1,200/tonne FCA this week. Prices for block copolymers of propylene (PP-block) were heard in the range of EUR1,200-1,260/tonne FCA.
Some market participants were not in a hurry to contract European PP, hoping to achieve even lower prices. European producers have recently adoped a practice of reducing prices further in the middle of the month.
MRC