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The contract price of propylene in Europe for March deliveries was finally agreed at the level of EUR950 per ton, which is EUR25 per ton higher than the level of February, several participants in the negotiation process at contract prices reported to ICIS.\nThe contract price was approved under the terms of FD NWE (with delivery to North-West Europe).
\nThis contract price was directly confirmed by three producers and two consumers of the material, which is the minimum necessary configuration for the approval of the contract price of propylene.
\nMeanwhile, confirmation from another buyer is expected.
\nQuotations of raw materials – naphtha – rose this month, which was the main reason for the increase in the contract price of propylene.
\nHowever, the increase in material supply as a result of unexpected technical problems in the downstream production and availability of imports against the background of high material stocks, as market players were well prepared for the beginning of the season of future planned preventive measures in mid-April, restrained the growth of quotations on the upstream market.
\nEarlier it was noted that the contract price of propylene in Europe for February deliveries remained at the level of January – EUR925 per ton, FD NWE.
\nPropylene is the main raw material component for the production of polypropylene (PP).
\nAccording to the ICIS-MRC Price Review, in the contract market in the last week of February, the March prices of Russian PP were agreed. It is expected that Russian manufacturers have gone for a price reduction, in some cases it reached 3 thousand rubles. per ton.<\/p>","protected":false},"excerpt":{"rendered":"