This week, PP prices marched higher in the European region.
An industry source in Europe informed a Polymerupdate team member, “European PP prices trended higher in the week owing to a confluence of bullish factors including supply disruptions arising from the Red Sea crisis which has led to delayed arrival of import cargoes from the Middle East and Asia."
The source added, “Through there was no upside risk as far as contractual transactions were concerned, buyers looking to procure cargoes in the spot market were at a greater risk of facing financial reversals.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1155-1165/mt FD North West Europe mark, a week on week spike of Euro (+40/mt) from the previous week. PP block copolymer grade prices were assessed at the Euro 1225-1235/mt FD Northwest Europe levels, sharply higher by Euro (+50/mt) from last week.
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 gained by Euro (+30/mt) week on week. PP injection moulding grade prices were assessed at the Euro 1360-1365/mt FD NWE Italy levels, a sharp gain of Euro (+30/mt) from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1165-1170/mt FD NWE UK levels, week on week up by GBP (+20/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1440-1445/mt FD NWE Germany and FD NWE France levels, both rising by Euro (+20/mt) from the previous week. PP block copolymer grade prices were assessed at the Euro 1430-1435/mt FD NWE Italy levels, a week on week gain of Euro (+20/mt). Meanwhile, PP block copolymer grade prices were assessed at the GBP 1225-1230/mt FD NWE UK levels, a rise of GBP (+10/mt) from the previous week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1140-1170/mt levels, steeply higher by Euro (+40/mt) week on week. FCA Antwerp PP copolymer prices were assessed at the Euro 1200-1230/mt levels, a week on week spike of Euro (+50/mt).
Upstream propylene spot prices on Thursday were assessed at the Euro 985-995/mt FD Northwest Europe levels, a week on week rise by Euro (+30/mt).
European propylene feedstock contract price for February 2024 settled at the Euro 1065/MT FD North West Europe levels. This price represents a gain of Euro 15/mt from its January 2024 settlement levels.
