During the third week of January xxxx, the European Polypropylene (PP) market witnessed a notable surge of x.xx in prices. This upswing was primarily fuelled by a substantial xxx spike in the price of its feedstock, Propylene, recorded in the preceding week. The surge in Propylene prices led to increased production costs, fostering a bullish pricing sentiment in the European PP market. Tight supplies and heightened replenishment activity among participants further propelled the rise in spot prices. In response, European sellers adjusted their offers downwards in anticipation of better netbacks, contributing to a positive market trajectory. End-users responded to these dynamics by engaging in heightened restocking activities as a precautionary measure to mitigate potential delays in PP deliveries from the Middle East.
Simultaneously, the Saudi Arabian market experienced a surge in the price of PP, rising by approximately x.xx. This increase was directly influenced by a concurrent...
