London — The European propylene contract price settled up Eur10 month on month at Eur1,050/mt ($1,227/mt) FD NWE for September, market sources said Friday.
An increase in the contract price was expected by market participants amid ongoing supply tightness in Europe.
Cracker maintenance was also picking up again, with at least four producers planning a shutdown between August and October, sources said.
The S&P Global Platts propylene contract price indicator for September, based on the spot prices of feedstock naphtha and various co-products produced by steam crackers, showed a rise of Eur10.50 from August and was last assessed at Eur1,050.50/mt FD NWE on Thursday.
