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European PP prices dropped significantly for the CIS markets in July

July 08/2019

MOSCOW (MRC) - July contract price of propylene in Europe was agreed down by EUR80/tonne from the level in June. Therefore, all European producers announced a proportional decrease in export polypropylene (PP) prices for July shipments to the CIS markets, according to ICIS-MRC Price report.

Negotiations over July prices of European PP have begun this week. All market participants said that European producers had to cut export prices of polymers of propylene for shipments in July significantly under the pressure the lower cost of the main raw materials in the region.

Deals for July shipments of homopolymer propylene (homopolymer PP)  were negotiated in the range of EUR1,070 -1,120/tonne FCA, whereas last month"s deals were done in the range of EUR1,150 -1,200/tonne FCA.

Deals for block copolymers of propylene (PP block copolymers) were negotiated in the range of EUR1,140-1,180/tonne FCA.

Demand for European PP has subsided significantly from consumers in the CIS countries in May-June due to high export prices. But a significant reduction in July prices may change the situation with the demand for a European polymer for the better.
Author:Anna Larionova
Tags:Europe, SNG, PP, PP block copolymer, homopolymer PP, PP random copolymer.
Category:General News
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