The contract price of propylene in Europe for September supplies was agreed at the level of EUR1,050 per ton, which is EUR10 per ton higher than the level of August, ICIS participants on the contract market told ICIS on Friday.

The contract price was approved on the terms of delivery of FD NWE (with delivery to North-Western Europe).

This contract price was directly confirmed by three manufacturers and two material buyers, which is the minimum necessary configuration for the approval of the contract price of propylene.

A slight increase in the contract price of propylene for the current month was due to the continuing situation regarding the limited supply of material on the market and either stable or growing quotations of naphtha in euros during the past month.

Earlier it was noted that the August contract price of propylene in Europe was approved at the level of EUR1,040 per ton, which is EUR8 per ton higher than the July price.

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

According to the Price Review of ICIS-MRC, last week Russia started negotiations on September PP contract prices, some producers agreed prices only by the end of the week. In the PP homo segment, the price increase was insignificant, while one of the producers raised the prices of copolymers of propylene by 7 thousand rubles. per ton.