European
Propylene : Market length continues- A
wide range of discounts heard in the spot market- Market
expects slight increase in January demandIn
the week ending Dec. 16, uncertainty dominated the European propylene markets.
Continuing weak buyer appetite led to more severe downward pricing
pressure. The FD NWE polymer-grade propylene spot price for three to
thirty days was Eur838/mt Dec. 16. This is a result of feedback from increased
pricing pressure and increased participant standoff. Demand remains low in
the market as destocking is ongoing. Buyer interest from downstream derivative
markets is also limited. Market participants expect a rise in January
buyer interest, as consumers look to replenish stock levels. Market
dynamics remained dominated by uncertainty. Throughout the week, there
were indications that discount levels could reach 40%. One trader stated
that he heard about discounts...