Urethane Blog

Propylene Continues to Fall

August 19, 2015

US Aug propylene initially settles down 3.5 cents/lb

18 August 2015 20:51 Source:ICIS News

HOUSTON (ICIS)–US August propylene contracts started settling lower on Tuesday, remaining at their lowest in more than six years.

August contracts for polymer-grade propylene (PGP) settled down 3.5 cents/lb ($77/tonne) at 33.0 cents/lb, while chemical-grade propylene (CGP) settled at 31.5 cents/lb.

This remains the lowest settlement since the May 2009 PGP contract was done at 31.5 cents/lb and CGP was done at 30.0 cents/lb.

Market sources said continued long supply and high inventory levels coupled with declining crude oil and feedstock costs to outweigh strong demand, leading to the decline.

 
http://www.icis.com/resources/news/2015/08/18/9915258/us-aug-propylene-initially-settles-down-3-5-cents-lb/

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