The contract price of propylene in Europe for November deliveries was agreed at EUR840 per ton, which is EUR30 per ton below the level of October, ICIS said.
The contract price was approved on the terms of FD NWE (with delivery to North-West Europe).
The agreement was directly confirmed by two manufacturers and two consumers, confirmation from a third consumer is expected.
Naphtha primary prices rose by EUR5-10 per month compared to the previous month, but weak demand affected lower prices for derivatives.
It was previously reported that the contract price of propylene in Europe for October deliveries was agreed at EUR870 per tonne, which is EUR10 per tonne higher than September.
Propylene is the main raw material component for the production of polypropylene (PP).
According to the ICIS-MRC Price Review, in Russia last week on the local polypropylene market by some panic sellers, suppliers went to a significant reduction in the prices of PP-homo raffia in the hope of selling off their stocks. Demand for this PP is still low, and lower prices in the market cause a backlash – consumers limit their purchases.