Spot prices of polypropylene (PP) in Europe rose in March, ICIS reported citing sources in the market.

The prices of homopolymer propylene (PP homo) below EUR1,200 per tonne, FD NWE (northwestern Europe) were still available in some places, but many sources consider this level to be a low range level.

Supplies of copolymers were particularly limited, sources said.

A smaller supply of imports, a limited supply of propylene and high demand have led to a tense situation with a supply-demand balance.

The decline in futures on the Chinese Dalian exchange last week led to some nervous situation in the PP market in Asia, but European sellers remain optimistic about the first half of the year.

It is expected that limited deliveries of propylene remain on the background of a number of planned repairs of cracking installations, and spot prices will significantly exceed current contractual prices.

According to the Price Review of ICS-MRC, in Russia in the spot market last week without significant changes. In the south of the transaction for the supply of Turkmen and Uzbek raffia were in the range of 83 500-85 000 rubles. Per ton, including VAT, and delivery. The Russian raffia was offered for 84 500-85 500 rubles. Per ton, including VAT, and delivery. In the central part of the Russian Federation, deals for the supply of Turkmen and Uzbek raffia were in the range of 83,000-86,000 rubles. Per ton, including VAT, and delivery.