Polypropylene Europe

摘要

Polypropylene producers were under pressure to further reduce August contract prices amid the severe volatility in the energy complex. Many of them claimed to have settled between a rollover and minus Eur15/mt in their August CP, with the low- end of the range in line with the cut in the monthly contract price for feedstock propylene. But most converters who have yet to settle believed that a larger reduction was justified as energy prices tumbled, fueling expectations of another cut in September propylene CP, due to be agreed by late August. “Oil prices are changing every minute. Rollover to minus Eur15/mt is out [of the discussion]. I will bet my last shirt it will be more than minus Eur15/mt,” a converter said. Order intake began well in August; consistent with a normal summer month.