Market Dynamics
European PP dropped by EUR20-40/tonne for CIS markets
Time: 2014-09-09 Source from: www.mrcplast.com
European polypropylene (PP) producers announced a decrease in September prices for the deliveries to the markets of the CIS countries of EUR20-40/tonne compared with the August level, according to ICIS-MRC Price Report.
September contract price of propylene in Europe was agreed down EUR50/tonne below the August level. Nevertheless, a serious fall in the price of the feedstock (propylene), European producers said that they intend to cap the decline in export prices of polypropylene in September, including deliveries to the CIS markets. Market participants reported that the decline in export prices was capped by EUR20-40/tonne.
Negotiations on September delivery of European homopolymer PP were done in the range of EUR1,200-1,260/toone FCA. Price offers for PP block copolymer started from EUR1,260/tonne FCA.
Some market participants said that ongoing weakening of euro exchange rate contributes to the decrease in export prices of European PP.