The European propylene contract price has settled at Eur1,032/mt FD NWE, a rollover from June, market sources said Friday.

The settlement was confirmed by two different settling parties who are part of the European contract settlement process.

The settlement comes at a time when propylene in Europe has turned tight even as the other two olefins — ethylene and butadiene — are seen better supplied and their contracts for July have settled at levels lower than June.

Signs of tightness have emerged in the European propylene market in May amid planned turnarounds, strong demand and the use of light feedstocks, sources said.

As a result of the tightness, propylene prices in Europe are currently bullish. Spot polymer grade propylene in Europe was last assessed at Eur1,118/mt FD NWE, up Eur55 month-on-month.

–Shashank Shekhar, shashank.shekhar@spglobal.com

–Edited by Alisdair Bowles, alisdair.bowles@spglobal.com

https://www.platts.com/latest-news/petrochemicals/london/northwest-european-propylene-contract-settled-26981518