US MPG August contracts roll over from July

24 August 2012 22:35  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--US monopropylene glycol (MPG) contract prices for August were assessed at a rollover from July.

Industrial-grade monopropylene glycol (PGI) was assessed by ICIS at 71-79 cents/lb ($1,565-1,742/tonne, €1,252-1,394/tonne) for August contract pricing.

A large buyer said it expects to see another roll for September.

Demand is soft, according to buyers, and producers are running at lower rates.

Buyers said that MPG prices have closely followed the price movements of propylene.

US propylene contracts for August fell by 1.50 cents/lb under pressure from a recent decline in spot prices.

The nearly 3% drop put polymer-grade propylene (PGP) contracts in August at 50.50 cents/lb and chemical-grade propylene (CGP) contracts 49.00 cents/lb.

US MPG producers include Dow Chemical, Huntsman and LyondellBasell.

($1 = €0.80)

By: Leela Landress
+1 713 525 2653

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