08 June 2011 22:46 [Source: ICIS news]
HOUSTON (ICIS)--US June propylene contracts settled down by 15 cents/lb ($331/tonne, €225/tonne) from May, market sources confirmed on Wednesday.
The settlements put polymer-grade proplylene (PGP) at 82.00 cents/lb and chemical-grade propylene (CGP) at 80.50 cents/lb.
The decline was in line with market expectations. Buyers were projecting declines of about 14 cents/lb last week.
Major US producers of PGP and CGP include Chevron Phillips Chemical, Enterprise Products, ExxonMobil, LyondellBasell, Petrologistics and Shell Chemical.
The main buyers include Dow Chemical, INEOS, Ascend Performance Materials and Total.
($1 = €0.68)
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