Polypropylene Prices Trend, Monitor, News & Forecast | ChemAnalyst

Polypropylene (PP) Prices: During the Quarter Ending December 2023

North America:

In the fourth quarter of 2023, the North American Polypropylene (PP) market encountered an unexpected downturn marked by a significant oversupply of PP within the domestic market and sluggish demand both locally and internationally.

This confluence of factors led to a bearish trend in the USA PP market, where low demand from downstream industries and an excess of supply drove a prevailing negative market sentiment. The global surge in upstream Crude Oil supply further influenced PP pricing in the U.S., aligning with a broader global trend driven by record production in the U.S., Canada, and Brazil.

Concerns about oversupply were exacerbated by worries about a weakening economy in China, indicating potential market imbalances. Additionally, the unexpected shutdown of INEOS Group Limited's major PP facility in Carson, California, further impacted overall market dynamics.

Get Real Time Prices of Polypropylene (PP): https://www.chemanalyst.com/Pricing-data/polypropylene-10

APAC:

Throughout the fourth quarter of 2023, the Asian Polypropylene market witnessed an overall bearish trend, despite supply disruptions caused by planned plant shutdowns. Stable domestic demand and the availability of affordable imports supported the market, except in Japan, where low supply and high demand led to an increase in prices.

China's petrochemical industry players contributed to supply disruptions through planned plant shutdowns, while caution in purchasing activities by terminal enterprises led to subdued trading and a decline in the wire drawing market. The market's performance reflected a nuanced landscape, with varying production rates across different sectors contributing to steady demand but introducing uncertainty and contraction in specific segments.

Europe:

The European Polypropylene market encountered significant challenges during the last quarter of 2023, characterized by weakened demand and surplus supply, fostering a bearish sentiment. Offloading inventories in anticipation of winter holidays, cheaper imports from overseas, and obstacles in trading activities due to the winter season compounded the market dynamics.

Belgium experienced the most pronounced shift in prices, with a notable decrease of 7.1% over the quarter, reflecting a stable market situation with a moderate balance between supply and demand. Seasonal impediments and elevated production costs further added to the challenges faced by the European PP market during this period.

MEA:

In the fourth quarter of 2023, the Middle Eastern Polypropylene market faced a bearish situation marked by a decrease in feedstock Propylene prices and sluggish buying momentum. The UAE saw consecutive declines in PP prices due to reduced upstream energy prices and subdued demand for end products.

The bearish atmosphere was intensified by a lacklustre buying sentiment and global economic uncertainties, with China's economic slowdown and increasing crude inventories in the US contributing to downward pressure on prices throughout the quarter.

South America:

During the fourth quarter of 2023, the South American Polypropylene market experienced a bearish scenario driven by reduced product costs in international markets, particularly in the USA, and a global slowdown in demand. Winter approaching led to weakened demand, with market participants adopting a cautious approach and adjusting strategies in response to seasonal patterns and the overall demand landscape.

Get Real Time Prices of Polypropylene (PP): https://www.chemanalyst.com/Pricing-data/polypropylene-10

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