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Prices of European PP did not fall for CIS markets in June

June 06/2019

MOSCOW (MRC) -- The June contract price of propylene was settled in Europe at the level of May, despite a major fall in oil prices. Therefore, all European producers announced a roll-over of May export polypropylene (PP) prices for June shipments to the CIS markets, according to ICIS-MRC Price report.

Negotiations over June prices of European PP have begun this week. All market participants reported producers' desire to roll over May export prices of propylene polymers for June shipments, while oil prices have significantly decreased in recent days.

Deals for June shipments of homopolymer of propylene (homopolymer PP) were discussed in the range of EUR1,170-1,205/tonne FCA, which virtually corresponds to the level of May. Deals for block copolymers of propylene (PP block copolymers) were negotiated in the range of EUR1,240-1,280/tonne FCA.

Demand for European PP has subsided significantly from consumers in the CIS countries in recent months due to high prices. Many companies switched to shipments of propylene polymers from other regions, including the Middle East.

Suppliers of Middle Eastern PP reduced their prices for June shipments, this week's offer prices for homopolymer PP were announced in the range of USD1,180-1,240/tonne CIF Odessa and St Petersburg. Prices of PP block copolymer were by an average of USD60/tonne higher.
Author:Margaret Volkova
Tags:Near East, Europe, SNG, PP, PP block copolymer, homopolymer PP, propylene, Belarus, Russia, Ukraine.
Category:General News
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