US propylene spot prices jump after news of plant outage
19 December 2012 16:37 [Source: ICIS news]
(recast with recent trade figure for propylene)
HOUSTON (ICIS)--US propylene traded higher on Wednesday amid news of an unplanned outage at a plant in Texas.
US polymer-grade propylene (PGP) for December traded at 63 cents/lb ($1,389/tonne, €1,056/tonne), up from 58.125 cents/lb on Monday.
The increase came on the heels of an unexpected shutdown earlier this week at PetroLogistics’ propane dehydrogenation (PDH) plant in Houston.
The unit is the only one of its kind in the US.
PetroLogistics took the facility down on Monday for unscheduled repairs, saying it expects the outage to last around three weeks at a cost of approximately $2m.
The company has 544,000 tonnes/year of capacity at the site.
For more on PetroLogistics’ plants, visit ICIS plants and projects
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($1 = €0.76)
By: William Lemos
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