The December contract price for propylene oxide in Europe rose by EUR12 per tonne on the back of an increase in propylene feedstock, ICIS reported.
Thus, the contract price of propylene oxide in Europe for December supplies was agreed at the level of EUR1 288-1 388 per ton.
Previously reported. that the contract price of propylene in Europe for December deliveries was finally agreed at EUR735 per tonne, which is EUR15 higher than the level of the previous month.
The contract price was approved on FD NWE terms (delivery to Northwest Europe).
Each month, 80% of the propylene contract is usually taken into account when determining the contract supply price.
Propylene is the main raw material for the production of polypropylene (PP).
According to MRC’s ScanPlast, PP supplies to the Russian market in January – September 2020 amounted to 880.13 thousand tons (calculated using the formula production minus exports plus imports and does not take into account the inventories of manufacturers as of January 1, 2020). The supply of only stat-copolymers of propylene (PP-random) increased.