European PP prices decline on improved supply, lower costs
Players in Europe report lower PP prices this week now that supply has relatively improved, buying appetite is not vivid and feedstock costs were driven down given the slumping energy costs. Most PP sellers are offering decreases ranging between €20-40/ton following rollover requests from December while they are not willing to concede to the full drop on January propylene contracts.
In Italy, two West European PP producers are offering decreases between €30-40/ton. “After closing December with €30/ton hikes, we revealed €30/ton declines for January. Demand is quiet at the present,” a source from a producer said. Another producer commented, “The market is more balanced now. Meanwhile, we hope not to give the full propylene drop during this month.”
European PP prices decline on improved supply, lower costsPlayers in Europe report lower PP prices this week now that supply has relatively improved, buying appetite is not vivid and feedstock costs were driven down given the slumping energy costs. Most PP sellers are offering decreases ranging between €20-40/ton following rollover requests from December while they are not willing to concede to the full drop on January propylene contracts. In Italy, two West European PP producers are offering decreases between €30-40/ton. “After closing December with €30/ton hikes, we revealed €30/ton declines for January. Demand is quiet at the present,” a source from a producer said. Another producer commented, “The market is more balanced now. Meanwhile, we hope not to give the full propylene drop during this month.”
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