13 July 2012 21:55 [Source: ICIS news]
Buyers said they are seeing a double-digit price decline for MPG in July.
One buyer said it saw a definitive 10 cent/lb ($220/tonne, €180/tonne) decrease for July contracts.
The lower propylene and propylene oxide (PO) prices seen in May and June pushed MPG ranges down, buyers said.
US propylene contracts for July settled flat after falling in June by 15.50 cents/lb and by 10 cents/lb in May.
Sellers and buyers said any decrease for July MPG was the bottom of the market and prices were going to be moving higher in August.
Industrial-grade monopropylene glycol (PGI) was assessed at 81-87 cents/lb for June contract pricing, according to ICIS.
July contract pricing is projected to decline by 10 cents/lb, but has not been assessed pending further market input.
($1 = €0.82)
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