This week, PP export prices quoted lower in the US.
An industry source informed a Polymerupdate team member, "US polypropylene spot export prices continued to trend lower during the week, with persistently weak demand and declining feedstock costs adding to the bearish pressure on prices. Trading activity remained subdued, with no new spot export deals heard concluded. Although homopolymer rail car prices were heard at tradable levels, it did not lead to any significant pickup in transaction activity. Although both feedstock and PP prices softened, market participants pointed to a dearth of export demand and a narrowed arbitrage window for US polypropylene.”
PP homopolymer prices were assessed at USD 1005-1025/mt FAS Houston, a sharp week on week drop of USD (-35/mt). FAS Houston PP copolymer prices were assessed at USD 1050-1070/mt, a steep week on week fall of USD (-30/mt).
Upstream polymer-grade propylene spot prices on Thursday were assessed at 36.00-36.50 cents/lb FOB U.S. Gulf, a marginal fall of (-0.50 cents/lb) from last week.
In the contract markets, US feedstock propylene contract prices for November 2024 settled at the 41.50 cents/lb mark for Polymer grade propylene and 40.00 cents/lb mark for Chemical grade propylene. These prices represent a drop of 3.50 cents/lb from their October 2024 levels.
