This week, PP prices declined in Europe.
An industry source in Europe informed a Polymerupdate team member, “The PP market momentum in Europe has slackened considerably with market participants curtailing their business activities in a phased manner. The offloading of inventories continued through the week with the upcoming winter holidays. Meanwhile, market participants noted that demand for material from consumers has ebbed."
The source said, “In the midst of the current market downtrend, market participants are focused on planning ahead for 2024, with the overall sectorial picture continuing to remain bleak.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1025-1035/mt FD North West Europe mark, a drop of Euro (-20/mt). PP block copolymer grade prices were assessed at the Euro 1105-1115/mt FD Northwest Europe levels, a week on week fall of Euro (-20/mt).
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1370-1375/mt FD NWE Germany and FD NWE France levels, both dropped by Euro (-15/mt) from last week. PP injection moulding grade prices were assessed at the Euro 1360- 1365/mt FD NWE Italy levels, a fall of Euro (-15/mt) from the previous week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1170-1175/mt FD NWE UK levels, a week on week decline by GBP (-25/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1450-1455/mt FD NWE Germany and FD NWE France levels, both lowered by Euro (-15/mt) from last week. PP block copolymer grade prices were assessed at the Euro 1440-1445/mt FD NWE Italy levels, down Euro (-15/mt) from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1240-1245/mt FD NWE UK levels, a decline of GBP (-25/mt) from last week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1010-1040/mt levels, a week on week decrease of Euro (-20/mt), while FCA Antwerp PP copolymer prices were assessed at the Euro 1090-1120/mt levels, lower by Euro (-20/mt) from the previous week.
Upstream propylene spot prices on Thursday were assessed at the Euro 770-780/mt FD Northwest Europe levels, a sharp week on week fall by Euro (-35/mt).
Propylene feedstock contract price for December 2023 settled at the Euro 1050/MT FD North West Europe levels. This price represents a drop of Euro 30/mt from its November 2023 settlement levels.
