12 August 2013 19:57 [Source: ICIS news]
HOUSTON (ICIS)—US August contract prices for polymer-grade propylene (PGP) reached an initial settlement up 7.7% from July, sources said on Monday.
Buyers and sellers confirmed initial settlements up 5 cents/lb ($110/tonne, €83/tonne), which would put August contracts at 70 cents/lb.
The increase would be in line with revised nominations from producers, which ended the previous week at up 4 cents/lb and up 5 cents/lb.
Spot PGP prices have been increasing recently, largely on higher feedstock costs and some supply tightness.
Sources said August contracts for chemical-grade propylene (CGP) have not reached any settlements.
PGP and CGP contracts typically move by the same amount in a month, but can settle at different levels.
Major US propylene producers include Chevron Phillips Chemical, ExxonMobil, LyondellBasell, PetroLogistics and Shell Chemical.
Major buyers include Ascend Performance Materials, Dow Chemical, INEOS and Total.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections