Polypropylene: Europe

摘要

The European spot polypropylene market bowed to further bearish pressure this week as volatility in the upstream energy complex persisted. Upstream, naphtha prices in Europe have fallen by around 7% on average in March to $919/mt CIF NWE from $992/mt in February as crude continued to weaken. In euro terms, they were down 5%, or Eur36/mt, within the same period, Platts data showed. Naphtha closed at $899.50/mt on Wednesday, down from $903.25/mt on Tuesday and $920.50/mt a week earlier as worries over the eurozone crisis escalated on the back of the Cyprus bailout issue.