Rita: Spot refinery propylene stable at 44-46 cents/lb
26 September 2005 20:00 [Source: ICIS news]
HOUSTON (ICIS news)--US October refinery grade propylene (RGP) spot prices were largely stable on Monday at 44-46 cents/pound ($970-1,014/tonne delivered despite Hurricane Rita.
Market sources noted that spot activity reacted only slightly to the storm, with today’s bid/offer range up by 1 cent/pound.
Traders said before Rita made landfall on Saturday, spot RGP in the pipeline bid/offer range was 43-45 cents/pound delivered Mont Belvieu,
A few traders said the RGP market demand appeared to be softening, but they were unsure as to whether this was a long term trend or just a short term occurrence.
Traders also said that it had been around two weeks since a RGP spot deal was transacted.
Market players said that most RGP spot participants were taking a wait-and-see position.
By: Dayna Owens
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