Propylene Europe

摘要

European propylene inched lower this week, to Eur1,090/ mt FD NWE or a 6% discount to the monthly contract price of Eur1,160/mt the upside coming for the naphtha hike, sources said. CGP prices were assessed at Eur1,060/ mt FD NWE, a Eur30/mt discount to PGP. Naphtha was assessed at $974.75/mt CIF NWE Friday, up $15.75/ mt on the week, after a second week of violence in Iraq sent oil prices to nine-month highs. The market was in a contango structure, sources said, with July prices pegged higher. Bullish expectations for ethylene and propylene July contract prices were triggered by the feedstock price.