AFPM ’14: April propylene contract initially nominated flat

30 March 2014 00:49  [Source: ICIS news]

SAN ANTONIO (ICIS)--The US April propylene contract was nominated at a rollover by one producer, a buyer said on the sidelines of the International Petrochemical Conference (IPC) on Saturday.

The buyer said that the producer’s nomination of a rollover, as well as weaker spot pricing at the end of March, could indicate that prices will fall 1-2 cents/lb ($22-44/tonne) in April.

The March polymer-grade propylene (PGP) contract settled at 72.0 cents/lb, while the March chemical grade propylene (CGP) contract settled at 70.5 cents/lb.

Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC runs through 1 April in San Antonio.

By: John Dietrich

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