The Northwest European propylene contract price for September has fully settled at Eur830/mt FD NWE, up Eur40/mt from August.
This was confirmed by several market sources. The increase in the propylene contract market is in line with bullish developments in the spot market in August.
Since Shell Chemical declared force majeure on propylene supplies from its steam cracker in Moerdijk, the Netherlands, spot levels have risen throughout the month.
The last spot propylene assessment for August was at a 9% premium to the August contract price of Eur790/mt, while spot material for September delivery was last assessed at a 5% premium to the September CP.
