May US MPG may rise on higher propylene - producer

25 March 2010 22:43  [Source: ICIS news]

HOUSTON (ICIS news)--US monopropylene glycol (MPG) producers could propose price increases in May if propylene values rise 8-11 cents/lb ($176-243/tonne, €132-182/tonne) as expected, a producer said on Thursday.

US MPG producers recently proposed price increases of 5 cents/lb for April.

“We cannot discuss our price plans, but it is well known that propylene values are one of the market drivers for MPG, “ the producer said, adding that an increase in production costs would squeeze margins. 

Throughout the first quarter, buyers accepted MPG price increases amid the run-up in propylene values and robust demand. Chemical-grade propylene (CGP) settlement prices climbed 11.5 cents/lb between January and March.

Industrial-grade MPG prices for March were 79-88 cents/lb, according to global chemical market intelligence service ICIS pricing.

($1 = €0.75)

For more on MPG visit ICIS chemical intelligence
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By: Gene Lockard
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