Initial June PP sell ideas from sellers emerge in Europe
A distributor of a West European producer in Italy reported, “We are mulling over offering with decreases in line with propylene contracts. However, we expect even larger drops from some traders.”
Affirming this comment, a distributor of a Middle Eastern producer reported his June sell ideas with decreases of up to €70/ton, saying, “We think that our supplier will give larger discounts considering their high price levels in May in order to match the market level.”
Meanwhile, a compounder said, “There were aggressive offers from traders especially for non-European origins. However, buyers prefer not to source imported material due to the unfavorable delivery times amid bearish expectations. Plus, our stocks are low.”
A buyer pointed to the poor sales performance of sellers due to the bearish June outlook and noted, “We limited our purchases to a hand to mouth basis given our comfortable stock levels. We expect new decreases due to the sales pressure on the side of sellers and we are confident about finding lower prices in the local market.”
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