Propylene Europe

摘要

European polymer-grade propylene spot prices fell Eur9/mt on the week to Eur1,061/mt FD NWE Friday. Sources said tightened supply still characterized the market, but bearish sentiment began to weigh on prices amid an expectation supply would ease this month. “Market sentiment is changing but with demand strong and consumers still at low stock levels, we will see a gradual fall, not a plummet [of prices],” a trade source said. Easing supply is expected as previously offline crackers have returned to or are expected to return to production in June. Repsol’s Tarragona, Spain, cracker resumed normal production this week, following an unplanned outage that began May 20. Repsol’s cracker at the site has an ethylene capacity of 702,000 mt/year. Hungarian petrochemical company TVK’s Olefin-2 cracker in Tiszaujvaros is expected to start this week, a buyer told Platts Thursday.