The January contract price for propylene in Europe was agreed at EUR45 per tonne higher than the price of December. As a consequence, virtually all European producers announced to increase export prices of polypropylene (PP) in the current month for the markets of the CIS countries, according to a price review ICIS-MRC.

Negotiations on the January level of prices for European PP ended at the end of last week, many market participants have concluded that European manufacturers have gone to increase export prices of PP for supply in January at EUR45 per ton or more, depending on the type of polypropylene.

Transactions in January regarding the supply of propylene homopolymer (PP-homo) concluded in a sufficiently large range EUR955-1 055 per tonne, FCA, while the previous month deals were in the range EUR910-1 010 per tonne, FCA.

Most manufacturers are still limited export quotas, some producers and does not plan to shipments of PP-homo markets of CIS countries in January.

Transactions regarding the supply of propylene block copolymer (PP-block) consisted of EUR1 055-1 190 per tonne range, FCA. Negotiations for January shipments stat-propylene copolymer (PP-random) were within EUR1 115-1 220 per tonne, FCA.