This week, PP spot prices dropped in the European region.

An industry source in Europe informed a Polymerupdate team member, “Spot market pricing sentiment was depressed on account of dampened demand for finished goods. A sharp fall in upstream propylene spot prices further pushed prices lower.”

The source added, “The decline in May contract price for upstream propylene is unlikely to boost market sentiment as market participants opined that the overall current weak demand undertone is not expected to improve in the near to medium term."

In the spot markets, PP injection moulding grade prices were assessed at the Euro 1205-1215/mt FD North West Europe mark, lower by Euro (-30/mt) from the previous week. PP block copolymer grade prices were assessed at the Euro 1245-1255/mt FD Northwest Europe levels, a week on week decrease by Euro (-30/mt).

In the contract markets, PP injection moulding grade prices were assessed at the Euro 1530-1535/mt FD Northwest Europe levels and Euro 1520-1525/mt FD Italy levels, both stable from last week. PP block copolymer grade prices were assessed at the Euro 1600-1605/mt FD Northwest Europe levels and Euro 1590-1595/mt FD Italy levels, both steady from the previous week.

FCA Antwerp PP homopolymer prices were assessed at the Euro 1190-1250/mt levels while FCA Antwerp PP copolymer prices were assessed at the Euro 1230-1260/mt levels, both down Euro (-30/mt) from the previous week.

Upstream propylene spot prices on Thursday were assessed at the Euro 830-840/mt FD Northwest Europe levels, a steep drop of Euro (-75/mt) from last week.

Propylene feedstock contract price for May settled at the Euro 1130/MT FD North West Europe levels. This price represents a drop of Euro 15/MT from its April settlement levels.