AFPM '12: US propylene for April unlikely to be settled this week

03 April 2012 03:27  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--US propylene contracts are unlikely to be settled until after the Easter holiday, a market participant said on Monday during the International Petrochemical Conference (IPC).

US propylene producers have nominated increases of 2 cents/lb ($44/tonne, €33/tonne) and 5 cents/lb for April.

The initiatives represent an increase of as much as 6.5% from March, when US polymer-grade propylene (PGP) contracts were settled at 77.50 cents/lb and chemical-grade propylene (CGP) were settled at 76.00 cents/lb.

US buyers have predicted a flat settlement for April.

Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC lasts through Tuesday.

($1 = €0.75)

By: William Lemos
+1 713 525 2653

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