Economic slowdown in major economies of the world leading to a bearish market outlook as well as anticipation of a further price drop in line with persistently falling oil and feedstock values has affected pricing of polypropylene in Europe. PP prices in the region have started to move south as buyers order minimum quantities in a bid to achieve zero stocks by next month. As oil prices plummet from record highs past US$140 to near hundred dollar levels, price of feedstock propylene is expected to fall by almost €70-80in the last quarter of the year.
General market sentiments for PP have also been very bearish as global demand continues to wane. Producers will be compelled to drop prices as demand weakens not only in Europe, but also in Asia- blocking any possible export markets. In addition, capacities to come onstream shortly in the Middle East will start supplying to existing markets, exerting pressures on producers in Asia and Europe.
10-Sep-08 
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