18 May 2012 21:39 [Source: ICIS news]MEDELLIN, Colombia (ICIS)--US monopropylene glycol (MPG) contract prices for May were assessed at a rollover from April, sources said on Friday.
Industrial-grade monopropylene glycol (PGI) was assessed at 87-93 cents/lb ($1,918-2,050/tonne, €1,515-1,620/tonne) for May contract pricing, according to ICIS.
Market players said with the recent large decline in the propylene settlement for May, MPG values would probably move down in June.
Demand for PG is generally slow this time of year, but market players expect it to pick up in less than 30 days as recreational vehicle (RV) antifreeze and other coolant buyers will start ordering product ahead of the busy summer driving season.
US propylene contracts for May fell by 10 cents/lb on 9 May.
The 13% reduction put polymer-grade propylene (PGP) in May at 67.50 cents/lb, while bringing chemical-grade propylene (CGP) contracts down to 66.00 cents/lb.($1 = €0.79)
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