14 January 2011 21:58 [Source: ICIS news]
In December, US propylene contracts rose by 3 cents/lb while spot prices surged, providing momentum for the spike in January.
In January, chemical grade propylene rose by 15 cents/lb.
The gains moved the IPA contract to a new range of 79-82 cents/lb, as assessed by ICIS, and will fortify mid-January IPA initiatives of plus 10 cents/lb from at least two major producers.
A third producer was expected to postpone a price-hike initiative of 10 cents/lb until 1 February.
($1 = €0.75)
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