Sellers of European polypropylene (PP) are planning to extend the July prices for August after the preservation of the August contract price of propylene at the level of the previous month, this week told ICIS market sources.

The contract price of propylene for August was agreed on 26 July at EUR670 per tonne.

One of the vendors said: “We propose that the price level of July, but the reduction of EUR10 per tonne as possible.”

Another dealer said: “I checked the price of one item at EUR10 per tonne lower than last month, some customers still are asked to leave rates at the level of July..”

The holiday season has started to influence the buying activity in Europe, especially in its southern regions, and in this regard, many processors have already started to think about the prices in September, as many factories closed, and the reserves are sufficient to produce in August.

Spot prices have been stable, but sources have explained that this is largely due to the low purchasing activity than with some more fundamental reasons.

Prices also fell in Asia, which is expected to affect both the price sentiment in Europe and other global markets.

The lower range of spot prices of PP injection molding are still at the level of EUR900 FD NWE (North-East Europe).

According to the price review ICIS-MRC, the Russian market demand for PP high this week, local companies continue to actively replenish their inventories. High demand for polypropylene from the local producers of polypropylene bags and big bags, disposable tableware, pipes. PP proposal to adequate market scheduled stop in June – July, several manufacturers have not led to shortages.