Polypropylene Prices Drop by 0.80% in UK Amid Weak Demand and Policy Concerns

The UK’s polypropylene demand in early October xxxx remained subdued, especially in the packaging and fast-moving consumer goods (FMCG) sectors, due to weak European consumption and a global surplus of polypropylene because of China&#xx;s self-sufficiency in production, which deflated prices. With the launch of Europe&#xx;s Eco-design of Packaging Regulation (EPR), refurbished materials were covered in recycling costs and suppliers switched to biodegradables and recyclable substitutes in reducing virgin polypropylene consumption for two-dimensional containers and films. Despite a sluggish domestic production, polypropylene supply was steady as Surrey port enabled the easy import of virgin material from Saudi Arabia, Germany, and potentially the USA, and export of virgin material to Ireland and the Netherlands. Sustained volatility in crude oil markets and falling propylene prices continued to create uncertainty around costs. This new landscape continued to prompt buying decisions to be more cautious, balancing smooth logistics with impending regulations and ongoing...