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We offer the following regional Propylene coverage to keep you informed of factors and developments affecting prices in the Europe Propylene marketplace.
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Updated to Q4 2017
Overall, propylene was well-balanced in the fourth quarter. Planned autumn cracker maintenances, which had kept supply on the tight side early on, were completed by the beginning of November, and this gave way to some temporary length following some unexpected derivative issues. The October contract reference price increased by €30/tonne, but November rolled over. Logistics were a challenge for players in the inland markets moving into December - namely congestion on railtank cars - which caused imbalances in some areas, which were not easily managed except through double-digit discounted spot prices. A handful of cracker issues in mid-December took the pressure off some sellers and spot prices reverted back to the mid-single digit discount region once again.
Propylene demand on the whole was robust throughout the fourth quarter with some derivative producers still having to catch up from supply disruptions earlier in the year. Some unplanned derivative production problems temporarily impacted demand levels mid-quarter, but sources generally described an unseasonably high level of demand in spite of the year-end timing. Demand did slow in the second half of December but sources said the reductions were much less pronounced than in previous years.
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.
Over 25 years of reporting on key chemicals markets, including Propylene, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.