25 April 2011 21:38 [Source: ICIS news]
HOUSTON (ICIS)--A US propylene producer nominated a 12.50 cent/lb ($276/tonne, €190/tonne) increase for May, market sources said on Monday, citing a sustained uptrend in the spot market in recent weeks.
The proposed increase of 14% would put polymer-grade propylene (PGP) at $1.00/lb and chemical-grade propylene (CGP) at 98.50 cents/lb.
Two more US propylene producers are expected to nominate their May contracts in the coming days.
US propylene contracts rose by 15 cents/lb in April in a record-breaking settlement that put PGP at 87.50 cents/lb and CGP at 86.00 cents/lb.
($1 = €0.69)
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