MOSCOW (MRC)--European producers were forced to reduce their export polypropylene (PP) prices for the CIS countries this month, following initial settlements completed at a €40/tonne drop compared to May, but some restrictions on exports remained, according to ICIS-MRC Price report.
Negotiations over June prices of European PP began this week, many market participants said European producers had reduced their export PP prices further than the reduction in the propylene price in Europe. At the same time, restrictions on exports remained, and some producers do not plan to ship material to the CIS markets this month at all.
Deals for June shipments of homopolymer propylene (homopolymer PP) were negotiated in the range of €1,100-1,140/tonne FCA (free carrier), compared to €1,140 - 1,200/tonne FCA last month. Some producers still had restrictions on exports, with homopolymer PP raffia accounting for the most acute.
Deals for copolymers of propylene (PP block copolymers) were discussed in the range of €1,155 -1,220/tonne FCA. Negotiations over June shipments of PP random copolymers were held in the range of €1,200-1,260/tonne FCA.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.