09 December 2008 21:56 [Source: ICIS news]
The initial settlement puts CGP at 18.50 cents/lb and follows a 30-cent/lb reduction in November, according to global chemical market intelligence service ICIS pricing.
US propylene prices have plummeted since the summer, pressured by ample supply and soft demand amid the weak
US refinery-grade propylene (RGP) spot prices fell to as low as 12.00 cents/lb in December, from a peak of nearly 80 cents/lb in July.
RGP values usually indicate trends for higher-purity CGP and polymer-grade propylene (PGP) contract prices.
Total, Solutia, Dow Chemical, Rohm and Haas and INEOS are among the main buyers.
Equistar, ExxonMobil, Chevron Phillips Chemical, Shell Chemical and Enterprise Products are among the major
($1 = €0.77)
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