Most sellers of polypropylene (PP) in Europe are warning their customers about price increases in February, ICIS reports citing sources in the market.

The contract prices of propylene increased by EUR28 per tonne in February, but most sellers seem to be eager to raise PP prices by EUR50-70 per ton.

It is still too early to talk about the level of the February PP prices, given also good demand amid the force majeure circumstances of Total in Feluy, Belgium.

Negotiations for the February supply of PP in Europe are just beginning, so it is not clear yet whether the sellers will be able to raise prices.

Earlier it was reported that February prices of polypropylene (PP) in Saudi Arabia rose by USD20 per tonne on the back of a limited supply from local producers and the recent increase in PP prices in China.

According to the Price Review of ICIS-MRC, in Russia the demand for polypropylene in the local market is still rather low due to the seasonal factor. The increase in the PP-homo price by the key supplier last week was 2,000 rubles. per ton did not lead to a chain reaction. Low demand did not allow other suppliers to raise prices proportionally. Conversely, in some segments, even a slight decrease in PP-homo prices was noted. In the market for propylene copolymers, a limited supply of an extruded PP block and an injection PP-Random is retained.