The initial contract price of propylene in Europe for supplies in April was agreed at the level of EUR880 per ton, which is EUR15 per ton higher than the level of the March price, ICIS reported.

According to the manufacturer, the deal was previously agreed at EUR15 per tonne above the level in March, but it has not yet been finally confirmed.

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).

As previously reported by the Market Report, the contract price of propylene in Europe for March deliveries was fully agreed at the end of last week at the level of EUR865 per ton, which is EUR50 per ton higher than the level of the February price.

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

According to the Price Review of ICIS-MRC, in Russia last week there was a small spike in consumer activity in the local polypropylene market. Against the background of the launch of weighting (load of a car of 8-10 tons) restrictions on freight road transport, some processors began to form additional stocks of polypropylene. The supply of polypropylene in the market is sufficient, but some processors do not want to buy polypropylene at a higher price due to the increase in the cost of delivery.