US initial June CGP contracts split from PGP, up 3.3%

26 June 2013 17:35  [Source: ICIS news]

US initial June CGP contracts split from PGP, up 3.3%HOUSTON (ICIS)--US initial June chemical-grade propylene (CGP) contracts settled up 3.3%, sources said on Wednesday, splitting from June polymer-grade propylene (PGP) contracts.

US June CGP contracts settled at 62.5 cents/lb ($1,378/tonne, €1,047/tonne), up from May’s settlement of 60.5 cents/lb.

The settlement was lower than June PGP contracts, which have started to settle up 3 cents/lb.

This is the first split settlement on propylene since March 2011, when PGP contracts fell by 5 cents/lb and CGP contracts fell by 1 cent/lb.

($1 = €0.76)

By: John Dietrich

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