The original contract price of propylene in Europe was agreed at the level of EUR690 for deliveries in September, per tonne, which is above the EUR20 price level in August, according to ICIS.

The two producer and two customers have confirmed the conclusion of transactions at this level. After the conclusion of the third and confirm the transaction at this level, the price of propylene is fully approved at the level of EUR690 per tonne.

Contracts have been concluded on the terms free shipping (FD), north-west Europe (NWE).

As reported earlier MRC, propylene contract price for deliveries in Europe in July has been fully agreed on the level of EUR670 per ton, to EUR17,5 higher price level in June.

According to the price review ICIS-MRC, stocks of polypropylene producers in Europe are low, while maintaining propylene deficit. Spot propylene prices in August, above the contractual level, and manufacturers expect that this will lead to an increase in polypropylene prices in September. Demand for PP was strong in August, and manufacturers are confident that demand will be strong in September.

In Russia, demand for polypropylene by the end of the month declined significantly, the active procurement of the wave has passed, many companies took a break until September. At the end of last week, the price changes are not recorded.