The July contract price for propylene in Europe was agreed at EUR50 per tonne below the June price. Nevertheless, a part of European manufacturers went to a more substantial reduction in export prices of polypropylene (PP) in the current month for the markets of the NF countries than a reduction in the price of the monomer, according to the Price Review of ICIS-MRC.

Negotiations on the July level of European PP prices began this week, many market participants note that European producers have gone to a greater reduction in export prices for PPs than the price of propylene in Europe has been reduced. Export quotas from local producers increased this month, although some exporters still retain export restrictions.

Transactions in respect of the July deliveries of propylene homopolymer (PP homo) are in the range EUR1 000-1 080 per tonne, FCA, whereas the month before deals were in the range EUR1 040-1,140 per tonne, FCA. Some manufacturers said that in the first week of trading, they sold all their July quotas PP-homo.

Transactions regarding the supply of propylene block copolymers (PP block) were discussed in the EUR1 100 -1 160 per tonne range, FCA. Negotiations on the July shipments of propylene-stat-copolymers (PP-random) are conducted within EUR1 150-1,230 per tonne, FCA.