Sellers of polypropylene (PP) in Europe warn buyers about a possible increase in prices in December at EUR32 per tonne, ICIS reports with reference to market participants.

Buyers said that manufacturers began to report an increase in PP prices for December, but the details were sketchy, since the propylene contract was agreed only on Thursday (November 30), and all of their suppliers have not yet contacted them.

It is reported that some sellers are planning to increase PP prices in accordance with the increase in December contracts for propylene, but buyers are not yet sure that in December they will be willing to pay higher prices.

According to the Price Review of ICIS-MRC, last week negotiations on the December contract prices of Russian polypropylene started. Following the increase in spot prices, manufacturers announced an increase in contract prices for polypropylene. The increase in prices from individual manufacturers reached 3500 rubles. per ton. At the spot, buying activity this week was low, most of the processors had already closed their PP requirements and took a break until December. At the end of the week, the price of polypropylene was fixed.