Prospects for European ethylene and propylene markets were seen as bullish going into September ahead of the autumn cracker maintenance season, sources said this week.
About 9% of European ethylene's capacity or four crackers will undergo planned maintenance in September, which has triggered a bullish outlook for September industry contract prices for ethylene and propylene.
Platts Propylene Indicator for the September contract price was assessed at Eur827/mt ($975/mt) FD NWE Wednesday, compared with the industry-settled August CP of Eur790/mt FD NWE. The September Platts Ethylene Indicator was Eur996/mt Wednesday, up Eur31/mt from the industry-settled August European contract price of Eur965/mt.
Downstream, polyethylene and polypropylene producers were eyeing increases in September, taking momentum from feedstocks, sources said.
S&P Global Platts assessed August contract prices for PE, PP were stable this week, with low density polyethylene at Eur1,370/mt FD NWE and PP homo at Eur1,245/mt FD NWE Wednesday, as the market's attention had turned to September. - Platts -