Market Dynamics
European PP prices rose to EUR15-20/tonne in July
Time: 2014-07-10 Source from: www.mrcplast.com
MOSCOW (MRC) - European producers announced polypropylene (PP) price increase for July delivery for CIS markets of EUR15-20/tonne, compared with the June level, according to ICIS-MRC Price Report.
July contract price for propylene in Europe was agreed up EUR15/tonne above the June level. Volumes of PP production in Europe are reduced because of many reasons, and this puts additional pressure on prices.
As a consequence, European producers amid tight supply announced increases in PP price of EUR15-20/tonne. Last week deals for European homopolymer PP were discussed in the range of EUR1,235-1,300/tonne FCA.
The low end of PP block copolymers price was at EUR1,320/tonne FCA.
Because of the limited export quotas from certain European producers, some companies said that they did not manage to buy the required volumes of PP for July delivery.