US MPG contracts likely to roll over for September

14 September 2012 21:28  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--US monopropylene glycol (MPG) contract prices for September are likely to roll over from August levels on soft demandi , sources said on Friday.

Industrial-grade monopropylene glycol (PGI) was assessed by ICIS at 71-79 cents/lb ($1,565-1,742/tonne, €1,205-1,341/tonne) for August contract pricing.

Demand was soft, according to buyers, and producers were running at lower rates.

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

US propylene contracts for August were at a reduction of 1.50 cents/lb under pressure from a decline in spot prices. September propylene has not yet settled.

The nearly 3% drop puts 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 = €0.77)

By: Leela Landress
+1 713 525 2653

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