This week, PP spot prices plunged in the European region.
An industry source in Europe informed a Polymerupdate team member, "The European PP market continued to experience a decline in prices owing to persistently bleak demand sentiments. Spot prices were pressured lower with demand weakening further through the week. Key downstream industry sectors displayed a limited interest for material, prompting reports of lengthening supplies. Furthermore, the influx of delayed import cargoes added to the rising pressure on prices.”
The source added, ”Trade flows could be said to have normalized even as reports have surfaced of import offers ebbing significantly.”
In the spot markets, PP injection moulding grade prices were assessed at the Euro 1215-1225/mt FD North West Europe mark, a tumble of Euro (-50/mt). PP block copolymer grade prices were assessed at the Euro 1265-1275/mt FD Northwest Europe levels, sharply falling by Euro (-60/mt) from last week.
In the contract markets, PP injection moulding grade prices were assessed at the Euro 1560-1565/mt FD NWE Germany and FD NWE France levels, both stable week on week. PP injection moulding grade prices were assessed at the Euro 1550-1555/mt FD NWE Italy levels, rolled over from last week. Meanwhile, PP injection moulding grade prices were assessed at the GBP 1335-1340/mt FD NWE UK levels, a week on week fall of GBP (-5/mt).
In the contract markets, PP block copolymer grade prices were assessed at the Euro 1630-1635/mt FD NWE Germany and FD NWE France levels, both left unchanged week on week. PP block copolymer grade prices were assessed at the Euro 1620-1625/mt FD NWE Italy levels, remaining constant from the previous week. Meanwhile, PP block copolymer grade prices were assessed at the GBP 1395-1400/mt FD NWE UK levels, down GBP (-5/mt) from the previous week.
FCA Antwerp PP homopolymer prices were assessed at the Euro 1200-1230/mt level, sharply fall of Euro (-50/mt) from last week. FCA Antwerp PP copolymer prices were assessed at the Euro 1250-1280/mt levels, a week on week tumble of Euro (-60/mt).
Upstream propylene spot prices on Thursday were assessed at the Euro 960-970/mt FD Northwest Europe levels, a decline of Euro (-30/mt) week on week.
European propylene feedstock contract price for May 2024 settled at the Euro 1135/MT FD North West Europe levels. This price represents a fall of Euro 10/mt from its April 2024 settlement levels.
