August prices of Europe PP rollover from July for CIS countries buyers

MOSCOW (MRC)–European producers rolled over July polypropylene (PP) prices for August shipments with a few exceptions, following the Europe propylene price for August rising €58/tonne, according to ICIS-MRC Price report.

The difference in monomer and polymer prices has been quite large for several months already.

Negotiations over August export prices of European PP began last week.

All market participants said most European producers still had export restrictions, especially, on propylene copolymers.

Prices for propylene homopolymer (homopolymer PP) raffia grade were the exception to the rollovers, as some producers had cut prices.

European producers had the largest restrictions on PP exports to the CIS markets in May-June, when export quotas were thin.

The availability of PP for export has increased from some producers for the past two months, but it was often typical for homopolymer PP.

Deals for August shipments of homopolymer PP were done in the range of €1,550-1,640/tonne  free carriage agreed (FCA), whereas last month’s deals were done in the range of €1,560-1,640/tonne FCA.

Deals for block copolymers of propylene (PP block copolymers) started from €1,800/tonne FCA and higher, which corresponded to the level a month earlier.

MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.