Corrected: July prices of European PP fall again for CIS markets

10 July 2017 12:19 Source:ICIS News

Correction: In the ICIS/MRC story headlined "July prices of European PP fall again for CIS markets" dated 10 July 2017, please read in the fourth paragraph the range of €1,000-1,080/tonne... instead of the range of €1,000-1,190/tonne... A corrected story follows.

MOSCOW (MRC)--Some European polypropylene (PP) producers have reduced July export prices for CIS countries further than the €50/tonne drop in propylene pricing, according to ICIS-MRC Price report.

Negotiations over July prices of European PP began this week, with many market participants stating that European producers have reduced their export PP prices beyond the monomer price fall.

Local producers’ export quotas increased this month, although some producers still had restrictions on exports.

Deals for July shipments of homopolymer propylene (homopolymer PP) were negotiated in the range of €1,000-1,080/tonne FCA (free carrier), whereas last month’s deals were done in the range of €1,040-1,140/tonne FCA.

Some producers said they had sold out all their July quotas of homopolymer PP in the first week of the trades.

Deals for block copolymers of propylene (PP block copolymers) were discussed in the range of €1,100-1,160/tonne FCA. Negotiations over July shipments of statistical copolymers of propylene (PP random copolymers) were held in the range of €1,150-1,230/tonne FCA.

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

By Sergey Karaichentsev