- Participants note a decline
in demand for CGP- Market pessimistic about
summer holidays





In the week ending June 16, the European
propylene markets remained quiet as fundamentals dominated by weak demand
throughout the value chain. The Northwest European propylene
market remained quiet throughout the week as consumers continued to focus on
contract intake due to the weak demand in downstream markets for
polypropylenes, oxoalcohols, and acrylonitrile. The week saw
a particular weakness in the demand for chemical grade material, with spot
material discounts exceeding 50%. Most market participants remained
pessimistic about a possible shift in fundamentals. They
expected that the limited activity would continue as the market approached the
summer holidays in July and august. Since it did
not materialize, there isn't much improvement from June to July. "In H2,
we'll see... demand could...