London — The European propylene contract price for October was settled up Eur20 on the month at Eur1,070/mt ($1,239/mt) FD NWE, market sources said Friday.
Market participants had expected an increase in the contract price, amid higher upstream feedstock costs, with sources predicting a Eur15-20 rise on the month.
Steam cracker maintenance was also picking up, with at least four producers planning a shutdown between September and October, sources said.
The S&P Global Platts propylene contract price indicator for October, based on the spot prices of feedstock naphtha and various co-products produced by crackers, showed a rise of Eur11.50 from September and was last assessed at Eur1,061.50/mt FD NWE on Thursday.
