Price of European PP for export to CIS markets in October falls on lower propylene

MOSCOW (MRC)–The price of European polypropylene (PP) for export to the CIS countries in October has fallen in some cases by a greater magnitude than the €12.50/tonne decrease in the propylene contract, according to the ICIS-MRC Price Report.

Negotiations over October prices of PP began at the end of last week. All market participants said European producers decided to reduce the export prices of propylene polymers.

Deals for October shipments of homopolymer polypropylene (homopolymer PP) were discussed in the range of €830-900/tonne FCA (free carrier), whereas last month’s deals were done in the range of €840-940/tonne.

Deals for block copolymers of propylene for June delivery were discussed in the range €920-980/tonne FCA.

There were no restrictions on October shipments from European producers; moreover, for large volumes of purchases, some producers were ready to go for additional discounts.

MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.