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The contract prices of polypropylene (PP) in the US in February were agreed at 6 cents per pound (USD132 per tonne) lower than January, following a proportional reduction in the price of monomer, ICIS reports.<\/p>\nThe contract prices of polypropylene (PP) in the US in February were agreed at 6 cents per pound (USD132 per tonne) lower than January, following a proportional reduction in the price of monomer, ICIS reports.<\/p>\n
So, at the end of last week contract propylene for supplies in February were agreed at 6 cents per pound lower than January amid a few weeks of decline in prices on the spot market, as well as an increase in inventory levels.<\/p>\n
The decline in PP prices was positively received by buyers, which, after the January PP price increase, reached a 26-month maximum, reduced capacity utilization or reoriented for imports.<\/p>\n
According to preliminary data from the American Chemical Board (ACC), the production of PP in the US and Canada in January fell by 12% compared to the same month a year earlier and by 15% compared to December last year.<\/p>\n
Although imports in January and February are likely to be higher than normal, it is expected that imports will slow in March, as import prices are now less attractive when domestic PP prices go down.<\/p>\n
The prices of imported PP homopolymer are at the level of approximately 67-68 cents per pound (USD1,474-1,496 per tonne), CFR USA.<\/p>\n
February internal contracts for the supply of PP homopolymer are at the level of USD71-75 cents per pound; contract prices of PP block copolymers – USD72-76 cents per pound, USD CFR.<\/p>\n
According to the Price Review of ICIS-MRC, in Russia in the polypropylene market gradual price increases continue, while the lower level of PP prices grows, while the upper limit remains unchanged for PP-homo. The demand for polypropylene from the domestic market is still low, and this factor holds back price growth. Seasonal factor continues to limit the demand for finished products from PP, especially clearly it is traced in the construction sector.<\/p>","protected":false},"excerpt":{"rendered":"
The contract prices of polypropylene (PP) in the US in February were agreed at 6 cents per pound (USD132 per tonne) lower than January, following a proportional reduction in the price of monomer, ICIS reports. So, at the end of last week contract propylene for supplies in February were agreed at 6 cents per pound […]<\/p>\n