Rotterdam (The Netherlands): Propylene Oxide prices dropped in the last days of December, partially due to downturns and weak wholesale demand sentiments. Markets observed labor tightening, weather challenges, and festivities in Europe. Despite GDP growth slowing down to xx and inflation cooling off from xx to x.xx by Jan xxxx, Propylene Oxide prices remained xx.xx higher than pre-pandemic prices across Europe in the early days of January. The Propylene Oxide market in Europe continues to remain elevated compared to pre-pandemic levels, despite slowing demand.
In European markets, Propylene Oxide prices showed a marginal uptick amidst rate cut optimism persisting globally, as the US Federal Reserve previously signaled three rate cuts in FYxx. Downstream propylene glycol and polyol markets experienced an uptick in procurement activities in Europe. The tightening of Propylene Oxide supply in the US markets continued to affect current prices in Europe due to...
