Initial US May propylene contracts fall 0.5 cent/lb

08 May 2014 21:26  [Source: ICIS news]

HOUSTON (ICIS)--US propylene contracts for May reached an initial settlement at a slight decrease of 0.5 cent/lb ($11/tonne), sources said on Thursday.

If the settlement is fully accepted, it would put May contracts for polymer-grade propylene (PGP) contracts at 70.5 cents/lb and chemical-grade propylene (CGP) at 69.0 cents/lb.

The initial settlement followed nominations separately made by two producers at a rollover.

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.

By: Tracy Dang
+1 713 525 2653

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