Crude oil prices fell sharply on Thursday due to a rise in the value of the US dollar. Brent prices fell $3.28 to $92.36 a barrel while WTI futures fell $2.94 to $86.61 a barrel.
– On Thursday, open spec naphtha prices gained 19 USD/mt to 658 USD/mt CFR Far East Asian levels.
– On Thursday in Asia, ethylene and propylene prices were assessed as stable thanks to calm regional buying sentiments.
Polypropylene (PP) in the USA
This week, PP export prices fell sharply in the United States. The price drop was triggered by lower upstream polymer-grade propylene values and ample product availability in the region.
PP homopolymer prices were assessed at the levels of 1270-1290 USD/mt, a sharp drop of USD (-50/mt) from the previous week. FAS Houston PP Copolymer prices were assessed at the 1330-1350 USD/mt FAS Houston levels, a sharp week-over-week decline of USD (-60/mt).
In domestic markets, railcar prices delivered in injection grade PP homopolymer were valued at 80.00 to 80.50 cents/pound, a decline of (-2 cents/pound).
Upstream polymer-grade propylene spot prices were between 45.00 and 45.50 cents/lb FOB US Gulf, a marginal week-over-week increase of (+0.5 cents/lb).
US propylene contract prices for August were 49.00 cents/lb for polymer grade propylene and 47.50 cents/lb for chemical grade propylene. These prices represent an increase of 2.00 cents/lb from their July levels.
Weekly Market Updates for Polypropylene (PP) and Polyvinyl Chloride (PVC) in Europe and the United States
– Polypropylene (PP) in Europe: This week, PP prices fell in Europe.
– Polyvinyl chloride (PVC) in Europe: This week, PVC spot prices fell in Europe
– Polyvinyl chloride (PVC) in the United States: This week, PVC export prices were assessed as stable in the United States.
Futures contracts on the Dalian Commodity Exchange in China
September 2, 2022:
-LLDPE prices are lower by 27 RMB (3.24 USD/ton) to 7,710 RMB (926 USD/ton)
-PP prices are down 9 RMB (1.08 USD/mt) to 7770 RMB (933 USD/mt)
-PVC prices are lower by 21 RMB (2.52 USD/ton) to 6,281 RMB (754 USD/ton)
-MEG prices are stable at 4152 RMB (499 USD/mt)