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Propylene Europe Transcript
The ICIS European propylene report is a benchmark report, which means that the prices that we publish are widely referenced in industry contracts.
We cover the contract market, which is a monthly market, and we cover that on a free delivered northwest European basis. This is an industry-agreed price, which means that key producers and key consumers exchange price ideas, and negotiate a new settlement in the last week of every month.
We also cover the spot market both on the chemical grade sector and in the polymer grade sector. We cover prices on an inland basis; on a free delivered (FD) northwest European (NWE) basis; and in the deep-sea market on cost, insurance & freight (CIF) coastal basis.
Market fundamentals such as supply, production issues both planned and unplanned and demand derivatives on the derivative markets downstream are all covered on a weekly basis in the report.
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Updated to Q4 2015
The extreme supply length seen in the third quarter steadily rebalanced during the fourth, helped by restart delays and another unplanned outage at Shell’s Moerdijk, Netherlands cracker, which made November tighter than expected.
A weaker euro and a perception that the market had reached the bottom supported demand – polymer demand was particularly strong. Rhine water levels started to improve by the end of November, which also helped to rebalance the market.
There remained a big discrepancy between European and global prices and the November contract price settled down for a fifth consecutive time, at €670/tonne FD (free delivered) NWE (northwest Europe).
The December contract price rolled over from November, with a lack of any major directional influence from upstream markets and an improved supply and demand balance that was largely production-driven.
The ICIS European propylene report is a benchmark report, which means the prices published are widely referenced in industry contracts. We cover the contract market, which is a monthly market, on a free delivered (FD) northwest Europe (NWE) basis.
This is an industry agreed price, meaning that key producers and key consumers can exchange price ideas and negotiate a new settlement in the last week of every month.
ICIS covers the spot market, both on the chemical grade sector and the polymer grade sector. Additionally, we cover prices on an inland basis, on a free delivered (FD) northwest European (NWE) basis and in the deep-sea market on a cost, insurance & freight (CIF) coastal basis.
Market fundamentals, such as supply-demand developments and production issues, both planned and unplanned, in the derivative markets downstream are all covered on a weekly basis in the report.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Propylene. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
General Propylene Methodology Consultation read more >
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
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