MOSCOW (MRC) - January contract price of propylene in Europe was agreed down EUR35/tonne below the level of the December. European producers announced an decrease in January export prices of polypropylene (PP) for the CIS countries but not proportionally to the growth of the price of monomer, according to ICIS-MRC Price Report.
Negotiations over January prices of European PP began last week. All market participants reported the desire of producers to limit the decline in export prices of propylene polymers to a value less than the decline in monomer prices. In fact, we are talking about lowering prices by only EUR20-30/tonne.
January deals for homopolymer PP were agreed in the range of EUR1,100-1,160/tonne FCA, down on average by EUR20-25/tonne from December. Some producers still had significant restrictions on this month's shipments.
Deals for block propylene copolymers (PP block copolymers) were done in the range of EUR1,180-1,240/tonne FCA, while in December deals were done in the range of EUR1,210-1,270/tonne FCA.
MRC