Polypropylene (PP) spot prices leap higher in Europe

This week, PP spot prices surged in Europe.

An industry source in Europe informed a Polymerupdate team member, “A bullish pricing sentiment prevailed in the European PP market through the week with reports of inventory replenishment by market players clearing the way for passing the price rise through the value chain. Higher upstream feedstock propylene spot and contract values for the month of September 2023 further pushed prices higher.”

In the spot markets, PP injection moulding grade prices were assessed at the Euro 1085-1095/mt FD Northwest Europe levels, sharply higher by Euro (+70/mt) from the previous week, while PP block copolymer grade prices were assessed at the Euro 1185-1195/mt FD North West Europe mark, spiked by Euro (+60/mt) from last week.

In the contract markets, PP injection moulding grade prices were assessed at the Euro 1320-1325/mt FD NWE Germany and FD NWE France levels, both left unchanged week on week. PP injection moulding grade prices were assessed at the Euro 1310-1315/mt FD NWE Italy levels, rolled over from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1135-1140/mt FD NWE UK levels, a marginal week on week rise of GBP (+5/mt).

In the contract markets, PP block copolymer grade prices were assessed at the Euro 1400-1405/mt FD NWE Germany and FD NWE France levels, both steady from last week. PP block copolymer grade prices were assessed at the Euro 1390-1395/mt FD NWE Italy levels, stable week on week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1205-1210/mt FD NWE UK levels, a marginal week on week gain of GBP (+5/mt).

FCA Antwerp PP homopolymer prices were assessed at the Euro 1060-1090/mt levels, a surge of Euro (+70/mt) from the previous week, while FCA Antwerp PP copolymer prices were assessed at the Euro 1100-1130/mt levels, a steep week on week rise by Euro (+60/mt).

Upstream propylene spot prices on Thursday were assessed at the Euro 695-705/mt FD Northwest Europe levels, a week on week gain by Euro (+15/mt).

Propylene feedstock contract price for September 2023 settled at the Euro 1060/MT FD North West Europe levels. This price represents a sharp rise of Euro 60/mt from its August 2023 settlement levels.