The April contract price of propylene in Europe was agreed at EUR175 per tonne below the level a month earlier. Nevertheless, European manufacturers do not intend to make a proportional reduction in the export prices of polypropylene (PP) for deliveries to the markets of the CIS countries in April, according to the ICIS-MRС Price Review.

Negotiations regarding the April European PP price level started in the middle of last week. All market participants say that European manufacturers have made a significant reduction in the export prices of propylene polymers for shipments in the current month, but the price reduction does not exceed EUR100 per ton, while propylene fell by EUR175 per ton in the current month in Europe.

Transactions regarding the April deliveries of propylene homopolymers (PP-homo) were discussed in the range of EUR840 – 900 per tonne, FCA, which is EUR80-90 per tonne lower than March. Transactions on the supply of propylene block copolymers (PP-block) were discussed in the range of EUR940-980 per tonne, FCA, which is EUR90-100 per tonne lower than a month earlier.

Some manufacturers have export restrictions due to planned preventive shutdowns of capacities. But they are not critical for most buyers. Partially, consumers cover their needs for PP through cheaper supplies from the Middle East.