European PP players project lower propylene contracts for Oct
In Italy, a distributor concluded some September PP deals down €130-150/ton from last month at €1200-1230/ton for homo-PP and at €1250-1280/ton for PP block copolymer injection, both on an FD, 60 days deferred payment basis. The distributor reported seeing good demand this month and stated that he projects decreases of €50/ton for the awaited October propylene settlements. Another distributor commented that the PP market is under stronger downward pressure compared to PE.
A converter bought West European PP with decreases of €150/ton for September at €1120-1130/ton for homo-PP and at €1170-1180/ton for PP block copolymer injection on an FD, 60 days deferred payment basis. The buyer reported, “We only bought small volumes as we still had some stocks left from the previous month. For October, we expect propylene contracts to settle with decreases of at least €70-80/ton from September.”
In Germany, a distributor sold West European material down €150-160/ton from last month at €1120-1140/ton for homo-PP and at €1170-1190/ton for PP block copolymer injection on an FD Germany, 14 days deferred payment basis. “We concluded most of our deals in the first half of the month and buyers are now taking a waiting stance, anticipating further drops on PP prices for October. We expect propylene contracts to settle down €70-80/ton for October,” he commented.
Another distributor in Belgium concluded some September deals down €120-130/ton from August at €1220-1230/ton for homo-PP and at €1270-1280/ton for PP block copolymer injection in the local market. The distributor made similar comments about demand being slower compared to the beginning of the month due to bearish expectations on the buyers’ side.
A different distributor in France also sold West European homo-PP at €1230/ton and PP block copolymer injection at €1280/ton for September on an FD, 60 days deferred payment basis. The distributor reported seeing good demand this month and added that his stocks are sufficient.
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