19 February 2010 22:40 [Source: ICIS news]
The gains took US IPA prices to 77-79 cents/lb, according to data from global chemical market intelligence service ICIS pricing
CGP prices were also pressured upward by higher refinery-grade propylene prices (RGP) prompted by curtailed production as US refineries have run at lower rates because of weak gasoline demand and high inventories, sources said.
In the meantime, two IPA producers have nominated March increases of 8 cents/lb, and a third has proposed a March hike of 5 cents/lb, citing continued upstream pressure.
US IPA producers include Shell, Dow Chemical, LyondellBasell and ExxonMobil.
($1 = €0.73)
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