The original contract price of propylene in Europe for the supply in October was agreed at the level of EUR730 per tonne, which is above the level of September EUR40, told ICIS one of the buyers.

He said he agreed to this price with two suppliers, but has not yet received confirmation from the seller.

The price of propylene has been agreed on the terms of FD NWE (northwest Europe).

It was noted earlier that the original contract price of propylene in Europe was agreed at the level of EUR690 for deliveries in September, per tonne, which is above the EUR20 price level in August.

The contract price is considered to be completely harmonized after confirmation from at least two producers and from two users.

Propylene is the main raw materials for the production of polypropylene (PP).

According to the price review ICIS-MRC, the Russian market of PP in the second half of September, buying activity has declined markedly, many processors have closed all transactions regarding the supply of this month. In the market of propylene homopolymer (PP-homo) last week price situation remained unchanged, while the market impact polypropylene (PP block) remains tense situation in the extrusion segment where PP rose due to scarcity formed on the market. In the market the same injection PP-Random also noted a lack of supply and further price increases. Prices of Russian pipe PP-random this week remained unchanged.