IMG_0600The initial contract price of propylene in Europe for supplies in July was agreed at the level of EUR790 per tonne, which is EUR50 per tonne lower than the price of June, ICIS reported.

The decrease in the price of propylene was expected against the backdrop of a decline in quotations of raw materials.

The contract price is considered fully agreed upon after confirmation from a minimum of two producers (suppliers) and by two consumers.

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

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

According to the survey of ScanPlast of the company MRC, for the first five months the total volume of polypropylene (PP) production in Russia decreased by 2% compared to the same indicator of 2016 and amounted to about 591.7 thousand tons.