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July PP prices shrug off higher propylene in Europe

  • 05/07/2016 (10:19)
Sellers across Europe started to reveal their July PP prices after propylene contracts settled up €17.5/ton from June. The gain in propylene contracts failed to boost the sentiment in the PP market and initial offers are seen shrugging off higher costs due to slow trading activities amidst comfortable supply.

A South European producer announced their new PP prices with rollovers from June. A source from the producer commented, “Demand is slow while there are no issues related to supply. We might consider applying discounts of €20/ton in the days ahead depending on buying interest.”

A West European producer elected to issue decreases of €20/ton on their spot PP prices with respect to last month. A producer source reported that demand is quiet for now and confirmed hearing about decreases from other sellers in the region.

A distributor in the Netherlands reported giving July offers for West European PP with rollovers to discounts of €20/ton from last month. Another distributor in Italy left their low-end PP prices unchanged from June while applying some decreases on the high ends of his offers. Both sellers commented that demand is calm at the beginning of the month.

A packaging producer in Germany received initial offers for July PP contracts with rollovers from his regular West European supplier and stated that his end product demand is weak for the time being.
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