17 October 2013 18:22 [Source: ICIS news]
HOUSTON (ICIS)--Prices for propylene derivatives likely peaked in September and should “remain benign” heading into Q4 2013, a global investment bank said on Thursday in a research note.
Deutsche Bank pointed to an 8% increase quarter on quarter in polymer-grade propylene (PGP) prices that it believes has peaked as of September.
Companies such as Ecolab, Ashland, Cytec Industries, PPG Industries, Valspar and Sherwin-Williams that buy derivatives of PGP should benefit from modest declines in derivative pricing through the rest of the year due to seasonally weak demand, the bank said.
PGP spot prices are currently assessed by ICIS at 61-62 cents/lb ($1,344-1,367/tonne, €995-1,012/tonne). PGP contract prices for October were assessed at 67.5 cents/lb.
($1 = €0.74)
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