MOSCOW (MRC)--European polypropylene (PP) producers have raised prices significantly for material exported to the CIS markets following an 8% hike in the June propylene contract, according to the ICIS-MRC Price Report.
The propylene contract was settled €80/tonne up from May at €1,032/tonne.
In some cases, June PP export prices for the CIS markets were €90/tonne higher as negotiations began this week, with all deals expected to be agreed by the end of Friday.
All market participants reported an increase in June export prices for propylene polymers from all producers, with the highest in the segment of homopolymer PP (up by €70-90/tonne).
Deals on June homopolymer PP were discussed in the range of €1,190-1,245/tonne FCA (free carrier) while deals for May shipment were agreed in the range of €1,120-1,155/tonne.
Some producers have maintained export restrictions for the third consecutive month for injection moulding homopolymer PP.
Deals for PP block copolymers were discussed in the range of €1,250-1,300/tonne FCA, up €40-50/tonne from the May level.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.