On Wednesday, propylene prices in the European market remained unchanged, even as upstream crude values weakened and producers scaled back output to protect margins.
An industry source in Europe, speaking on condition of anonymity, told a Polymerduniya team member, “Even though producers reduced production levels to avoid losses and safeguard margins, the plentiful supply of materials in the market, combined with low demand from end-users and persistent inflationary pressures, dampened market sentiment and exerted a bearish pressure on prices.”
CIF NWE propylene prices were assessed at Euro 750-760/mt, holding steady from Tuesday’s levels. Spot polymer grade propylene prices also remained unchanged, assessed at Euro 750-760/mt FD NWE.
In contrast, the Asian market witnessed slight gains, with FOB Korea prices assessed at USD 730-740/mt, up USD 5/mt from the previous day.
