Prices of polypropylene (PP) in the European free trade market remained in August at the level of the previous month, with most of the deals already concluded this month, ICIS reported.

All buyers of products manufactured on the basis of propylene were forced to pay prices for EUR8 per tonne higher for August deliveries compared to July (the growth of the contract price of propylene for the current month), but it was very difficult for sellers of the free market to add anything to their prices in August.

Most market players agreed to revise their prices in September.

Spot prices of PP have fallen a bit in Europe, but the market as a whole is balanced, while propylene supply is limited.

According to the Price Review of ICIS-MRC, the buying activity in the Russian PP market is low, local companies continue to gradually replenish their inventories. The supply of homopolymer propylene (PP homo) on the market is still excessive, despite the reduction in imports and a simple one of the producers, while in the segment of copolymers of propylene the supply shortage remains. As a result of last week, prices for individual PP positions were fixed.