Polypropylene supply remains tight in October in Europe as buyers are still struggling to fulfil their requirements.
This tightness in PP stems from low imports, plant issues, and good demand.
The short supply means buyers cannot negotiate lower prices from the current highs.
Supply was tighter earlier in the spring. And while the market has seen some improvement since then, this has been marginal.
Given the multitude of factors that are keeping supply short, most likely it will take months for balance to be restored.
The PP market is not the only polymer market in Europe that is tight.
Many other polymers are experiencing shortages due to plant issues, low imports, and strong demand.
For example, ABS, PS, and PC are some of the markets that are suffering from the ongoing turmoil which is largely to do with distortions created by the pandemic.
While a slowdown in demand due to lack of raw materials, such as in automotive, eased the stress in supply of many polymers, for now this has not been enough.