
European PP spot prices posted big decreases in August versus July, according to the latest assessments by GC Intelligence.
In August prices decreased by €190/mt.
Several factors were contributing to the ongoing decreases in polypropylene (PP) prices in Europe.
First, the fall was related to the slowing demand due to the negative impact of energy prices on consumption.
Second, seasonal slowdowns were made worse by buyers waiting amid falling prices to get a better picture in September.
What is more, competitive imports and especially lower exports because of the firm prices in Europe weaked fundamentals further.
Europe’s loss of competitiveness along the entire value chain because of rising energy costs continued to get worse.
With the war continuing and an energy crisis and recession looming in Europe, downside pressure should persist into next year.