NPRA ’07: US April RGP likely up on rising spot

25 March 2007 23:37  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--US refinery grade propylene (RGP) contracts would likely settle 3-4 cents/lb higher in April due to rising spot prices, a propylene source said on the sidelines of the NPRA chemical conference on Sunday.

Others have questioned this, however, noting that overall US propylene demand was soft. Spot prices have risen by about 5 cents/lb to 43.50-45.25 cents/lb ($959-998/tonne).

March RGP contracts settled at 40 cents/lb, according to global chemical market intelligence service, ICIS pricing.

The RGP contract typically settles at the beginning of the month.

By: Mark Quiner
+1 713 525 2653

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