US C3 February nominations at plus 7, 8 cents/lb

27 January 2009 22:58  [Source: ICIS news]

HOUSTON (ICIS news)--US propylene (C3) producers have nominated February contract price increases of 7 and 8 cents/lb ($154 and $176/tonne, or €117 and €134/tonne), market sources said on Tuesday.

The nominations came after January contracts jumped by 2 cents/lb on the back of tight supply and slightly improved demand.

Two producers have nominated so far, one buyer said.

US chemical-grade propylene (CGP) contracts in January settled at 20.50 cents/lb, while polymer-grade propylene (PGP) contracts rose to 22.00 cents/lb, according to global chemical market intelligence service ICIS pricing.

Equistar, ExxonMobil, Chevron Phillips Chemical, Shell Chemical and Enterprise Products are among the major US producers of PGP and CGP.

Basell, Total, Solutia, Dow Chemical, Rohm and Haas and INEOS are among the main buyers.

($1 = €0.76)

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By: William Lemos
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