Propylene:Europe

摘要

The European spot propylene market saw prices fall this week and closed Friday at Eur1,055-1,060/mt FD NWE. The fall in spot prices was partly due to less demand in the market, sources said. An element of caution was said to have entered the market and caused a reduction in trading activity, sources added. One reason for such caution was the recent fall in the price of naphtha, according to sources. European naphtha values fell from $965/mt on September 3rd to $890/mt on October 3. In turn, muted spot activity in the PGP market was attributed by some sources to market participants’ awaiting further price developments regarding naphtha. The impact on the downside of slightly muted spot activity was offered by one source, who said there were “many offers on the table.” Meanwhile, the potential impact to the upside of the turnarounds on pricing was not particularly visible in the market, according to sources.