25 April 2014 17:13 [Source: ICIS news]
HOUSTON (ICIS)--A US producer nominated a rollover for its May propylene contracts, sources said on Friday.
A rollover would put US May polymer-grade propylene (PGP) contracts at 71.0 cents/lb ($1,565/tonne) and chemical-grade propylene (CGP) contracts at 69.5 cents/lb.
Sources said the rollover was not surprising, as spot PGP has recently stabilised on balanced inventories and a continued lag in demand from the construction market.
US propylene contracts often settle 2-3 cents/lb above recent spot PGP levels, and the most recent front-month PGP trades have been done at 68.5 cents/lb.
Major US propylene producers include Chevron Phillips Chemical, Enterprise Products, ExxonMobil, LyondellBasell and Shell Chemical.
Major buyers include Ascend Performance Materials, Dow Chemical, INEOS and Total.
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