Propylene prices saw a slight uptick Thursday on the back of healthy derivative demand, market sources said.
Propylene prices were assessed at Eur823/mt ($1,037) FD NWE for June, up Eur8 on the day, or a 2% discount to the June contract price of Eur840/mt FD NWE. For most of the month-to-date, the discount was at 3%.
Supply outages, planned and unplanned, have also helped support prices. Sabic's Geleen Olefins 3 cracker's restart, set for this week, had been delayed. And it was unclear if Total had restarted one of its crackers in Antwerp, Belgium, following a planned maintenance.
Downstream, European polypropylene spot prices were unchanged on the week at Eur1,130/mt FD NWE. Prices were flat as the recent global bearishness subsided slowly.
Demand emerged from Asia, and Turkish demand stabilized. In Europe, last week's fall of Eur40/mt FD NWE was not extended in the spot market.
Sources said they expected propylene prices to not have any further downside.
