30 August 2012 22:23 [Source: ICIS news]
HOUSTON (ICIS)--A second US propylene producer has nominated an increase for September, market sources said on Thursday, adding that the supplier is seeking a 2 cent/lb ($44/tonne, €35/tonne) hike for next month.
The initiative, which represents a 4% increase from August, followed a nomination for a 4 cent/lb increase by another producer.
US propylene contracts normally settle at the beginning of the month being negotiated.
Polymer-grade propylene (PGP) contracts in August settled at 50.50 cents/lb, while chemical-grade propylene (CGP) settled at 49.00 cents/lb, both down by 1.50 cents/lb from July.
($1 = €0.80)
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