Europe RGP cargos sent to US amid tight supply

20 April 2007 21:46  [Source: ICIS news]

HOUSTON (ICIS news)--Two refinery grade propylene (RGP) cargos were fixed from Europe to the US Gulf to take advantage of tight US supply and strong prices, traders said on Friday.

One 3,000 tonne cargo will load in Europe on 20-25 April, and should arrive in the US Gulf in early May, traders said. The other cargo is comparable in size and should discharge in the US Gulf in April.

Refinery production issues and strength in gasoline markets pushed US spot RGP from the low 40s cents/lb at the beginning of March to current levels around 48 cents/lb, according to global chemical market intelligence service ICIS pricing.

US RGP trading is mostly done domestically. Typically, propylene flows from the US to Europe, and is limited to polymer grade propylene (PGP) cargos.

By: Mark Quiner
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly