US April propylene contracts reach initial settlement at drop

09 April 2013 18:02  [Source: ICIS news]

HOUSTON (ICIS)—US April propylene contracts have reached an initial settlement at a drop of 10 cents/lb, sources said on Tuesday.

Sources said initial settlements have been reached that put polymer-grade propylene (PGP) contracts at 63 cents/lb ($1,389/tonne, €1,069/tonne) and chemical-grade propylene (CGP) contracts at 61.5 cents/lb.

The fall is mostly the result of weaker PGP spot prices and softer demand from the polymers market.

($1 = €0.77)

By: John Dietrich

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