MOSCOW (MRC) -- The December contract price of ethylene in Europe was settled down by EUR30/tonne from November. Consequently, virtually all European producers announced a reduction in export polypropylene (PP) prices for the CIS countries this month, according to ICIS-MRC Price report.
Negotiations over December prices of European PP began back at the end of last week and continued this week. Many market participants said European producers reduced their export PP prices for December shipments. At the same time, some producers reduced priced by EUR40/tonne.
This week's deals for December shipments of propylene homopolymer (homopolymer PP) were discussed in a quite wide range of EUR910-1,010/tonne FCA, whereas last month's deals were done in the range of EUR950-1,040/tonne FCA.
As last month, most producers have maintained restrictions on homopolymer PP shipments since October. Some producers said they would be able to carry out shipments to the CIS countries only in the third decade of December, virtually just before the New Year.
Deals for copolymers of propylene (PP block copolymers) were negotiated in the range of EUR1,010-1,110/tonne FCA. Negotiations over December shipments of statistical propylene copolymers (PP random copolymers) were held in the range of EUR1,070-1,140/tonne FCA.
MRC