AFPM ’13: US spot propylene could be nearing downside

25 March 2013 17:35  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--The US spot propylene market could be nearing its downside, a trader said on Monday on the sidelines of the International Petrochemical Conference (IPC).

The trader said that spot polymer-grade propylene (PGP) prices could fall another 1-2 cents/lb ($22-44/tonne, €17-34/tonne) in the coming weeks on soft demand.

“I don’t think you’ll see the price fall below 60 cents/lb,” the trader said. “I think people will start supporting the price at that level.”

The trader added that spot prices on propylene derivatives in Asia are also likely to support a spot PGP floor of 60 cents/lb in the US.

Hosted by the American Fuel & Petrochemical Manufacturers, the IPC continues through Tuesday.

($1 = €0.77)

By: John Dietrich

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