Spot propylene prices in Europe remained stable last week in Europe amid limited sales, high demand and balanced supplies, ICIS reported citing market participants.

According to the source, despite the completion of planned and unplanned stops for the repair of production, the price decline did not happen. According to him, demand remains high. With this seasonal slowdown in sales has not yet been observed.

The volume of spot sales of propylene polymer grade in the previous week in Europe was 18.65 thousand tons. While last week only about 1 thousand tons.

Negotiations on the December contract price of propylene in Europe should begin this week. Market participants expect that they will be mixed, given the growth in quotations of naphtha, which by now has amounted to EUR44 per tonne.

As previously reported by the Market Report, the November contract price of propylene in Europe was agreed at the level of October. Nevertheless, many European manufacturers have announced a reduction in the export prices of polypropylene (PP) for supplies to the markets of the CIS countries in November, despite the unchanged price of the monomer.

According to a review by the DataScope company of the Market Report, last month Russian companies increased the import of polypropylene to 20,700 tons against 15,1 thousand tons in September, local companies significantly increased the supply of homopolymer propylene (PP-homo) raffia and pipe block copolymer of propylene (PP block). In general, for January-October, 144.4 thousand tons of propylene polymers were imported to Russia against 144.2 thousand tons a year earlier. The reduction in external supplies was recorded only by PP homo and propylene-propylene copolymers (PP-Random), while imports of PP block and other propylene copolymers, on the contrary, increased.