US March propylene initially settles 1.5 cent/lb lower
Tracy Dang
10-Mar-2014
HOUSTON (ICIS)–US
March propylene contracts reached an initial settlement at a
decline of 1.5 cents/lb ($33/tonne), sources said on Monday.
The settlement puts March polymer-grade propylene (PGP) at 72.0 cents/lb and March chemical-grade propylene (CGP) at 70.5 cents/lb.
The decrease was in line with expectations, tracking weakness in the spot market.
US spot PGP pricing has been steady but slightly softer, hovering in the high-60s cents/lb for most of February.
Major US propylene producers include Chevron Phillips Chemical (CP Chem), ExxonMobil, LyondellBasell, PetroLogistics and Shell Chemical.
Major buyers include Ascend Performance Materials, Dow
Chemical, INEOS and Total.
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