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European May PP dropped by EUR40-70/tonne for CIS markets

May 13/2020

MOSCOW (MRC) -- The European May contract price of propylene was settled down by EUR80/tonne from the previous month. Nevertheless, for the second month in a row, European producers are not going to cut export PP price proportionally for shipments to the CIS markets, according to ICIS-MRC Price report.

Negotiations over May prices of European PP began at the end of last week. All market participants said that European producers have made a significant reduction in the export prices of propylene polymers for shipments in the current month, but the price reduction does not exceed EUR70/tonne, while propylene fell by EUR80/tonne in the current month in Europe.

Deals for May shipments of propylene homopolymers  (homopolymer PP) were discussed in the range of EUR800 - 860/tonne FCA, down by EUR40/tonne from April. Deals for block copolymers of propylene (PP block copolymers) were negotiated in the range of EUR880-920/tonne FCA, down by EUR60-70/tonne from the previous month.
According to market participants, European producers do not have any significant restrictions on May shipments of polypropylene.

Conversely, due to quarantine restrictions in a number of countries, the demand for polypropylene significantly decreased in April - May.
Author:Anna Larionova
Tags:PP, PP block copolymer, homopolymer PP, PP random copolymer.
Category:General News
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