MOSCOW (MRC)--Price movements of European polypropylene for export to CIS countries were mixed in March contract discussions, with rollovers to increases reported for homopolymer PP despite the fall in the upstream propylene contract, and falls of €20-25/tonne for propylene copolymers, according to the ICIS-MRC Price Report.
March contract prices of propylene was agreed in Europe down by €20/tonne from February. However, European producers reduced their export prices only for propylene copolymers to be shipped to the CIS markets in March.
Negotiations over March prices of European PP began on Monday. All market participants stated the ambiguity of decisions on export prices for polymer in March, given lower propylene prices in Europe. In fact, prices of propylene homopolymers (homopolymer PP) virtually either rolled over or went up from February, whereas prices dropped by €20-25/tonne in the propylene copolymers segment.
Deals for March shipments of homopolymer PP were done in the range of €1,060-1,145/tonne FCA (free carrier), whereas February deals were negotiated in the range of €1,030-1,140/tonne FCA. Some producers had limited export quotas for injection moulding homopolymer PP.
Deals for block copolymers of propylene (PP block copolymers) were discussed in the range of €1,195-1,250/tonne FCA, down by an average of €20-25/tonne from February.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.