This week, PP prices climbed in the European region.
An industry source in Europe informed a Polymerupdate team member, “Supplies tightened in the European PP market on the back of constrained domestic avails. The region continued to experience a scarcity in supplies as disruptions to shipping traffic in the Red Sea delayed the arrival of deep-sea parcels even as spot prices were quoting higher on the back of surging freight rates."
The source added, “Contract prices have also started trending higher, as consumers showed a readiness towards dealing at higher price levels as they continue to struggle with scarce material supplies. Meanwhile, buyers are making minimal quantity purchases as they are not keen on building inventories.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1115-1125/mt FD North West Europe mark, a week on week surge of Euro (+50/mt) from last week. PP block copolymer grade prices were assessed at the Euro 1175-1185/mt FD Northwest Europe levels, a sharp gain of Euro (+50/mt) from the previous week.
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1340-1345/mt FD NWE Germany and FD NWE France levels, both increased by Euro (+30/mt). PP injection moulding grade prices were assessed at the Euro 1330-1335/mt FD NWE Italy levels, higher by Euro (+30/mt) from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1145-1150/mt FD NWE UK levels, a week on week hike of GBP (+25/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1420-1425/mt FD NWE Germany and FD NWE France levels, both rose by Euro (+30/mt) from the previous week. PP block copolymer grade prices were assessed at the Euro 1410-1415/mt FD NWE Italy levels, a week on week increase of Euro (+30/mt). Meanwhile, PP block copolymer grade prices were assessed at the GBP 1215-1220/mt FD NWE UK levels, a gain of GBP (+25/mt) from last week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1100-1130/mt levels, sharply higher by Euro (+50/mt) week on week. FCA Antwerp PP copolymer prices were assessed at the Euro 1150-1180/mt levels, a week on week spike of Euro (+50/mt).
Upstream propylene spot prices on Wednesday were assessed at the Euro 955-965/mt FD Northwest Europe levels, a week on week steep rise of Euro (+55/mt).
European propylene feedstock contract price for January 2024 settled at the Euro 1050/MT FD North West Europe levels. This price represents a rollover from its December 2023 settlement levels.
