European Polypropylene: The demand is weakening despite
the drop in propylene prices■ Sellers have difficulty meeting buyers' expectations■ The homopolymer market is
tighter than theEuropean polypropylene demand was low in
the seven-day period ending Aug. 3, despite the news that the industry-settled
contract prices for key feedstock propylene dropped Eur85/mt from the month to
Eur1,395/mt. Buyers were anticipating further falls. According to a trader,
customers were canceling orders and renegotiating prices following the
settlement of the contract price. However, the C3 pricing dropped not enough to
satisfy consumers' expectations. Another
trader, based in Southern Europe, said that the month was quiet because players
were closing down for the summer holidays. Participants
in the market also pointed out strong supply fundamentals as well as the wide
availability of products throughout Europe. A trader stated that "it's because we...