08 August 2013 21:04 [Source: ICIS news]
HOUSTON (ICIS)--A US producer has increased its nomination for the August propylene contract price tracking continued higher spot prices, sources said on Thursday.
A buyer and seller said the company has raised its nomination for August propylene contracts to an increase of 5.0 cents/lb ($110/tonne, €83/tonne), compared with an earlier nomination of 3.5 cents/lb.
This would put August polymer-grade propylene (PGP) contracts at 70 cents/lb and chemical-grade propylene (CGP) at 68.5 cents/lb.
Another US producer has nominated August propylene contracts to increase by 4 cents/lb.
Typically, the US propylene contract is settled in the first half of the month for that month, and is about 2.5-3.0 cents/lb above recent spot trades.
($1 = €0.75)
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