09 September 2011 20:17 [Source: ICIS news]
HOUSTON (ICIS)--US propylene contracts for September settled flat, market sources said on Friday, confirming the second rollover for the US monomer in as many months.
The settlement keeps polymer-grade propylene (PGP) at 78 cents/lb ($1,720/tonne, €1,238/tonne) and chemical-grade propylene (CGP) at 76.50 cents/lb.
US producers had originally nominated rollovers and a 2 cent/lb increase for September, but market sentiment was that propylene would either settle flat or possibly drop.
US propylene contracts usually settle at the beginning of the month being negotiated.
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 = €0.72)
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