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US January PP contract prices drop 10 cents/lb, third monthly cut

Focus US Jan PP prices drop 10 cents/lb in third monthly cut

Focus article by Lane Kelley

HOUSTON (ICIS)--US polypropylene (PP) contract prices for January fell for the third straight month in a row and for the second month in double-digits, dropping 10 cents/lb ($22/tonne) on plunging propylene values linked to the drop in energy prices, sources said on Friday.

The feedstock settlement earlier this month was a big factor in lowering US PP prices for January to 64.50-66.50 cents/lb DEL (delivered) for homopolymer injection and raffia-grade material for medium to small volume buyers.

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