HOUSTON (ICIS)–US propylene contracts for June have yet to settle as price discussions have stalled between a rollover to an increase of 0.5 cent/lb.
Producers’ nominations had emerged at upticks of 0.5 cent/lb. However, buyers are mostly pushing for a rollover from May as spot pricing have not moved much because of ample supply and overall steady demand.
Front-month spot polymer-grade propylene (PGP) has traded in June at 30.000-30.875 cents/lb, wider compared with 30.000-30.500 cents/lb in May.
US propylene contracts are typically settled in the first half of the month for the rest of the month.
Major US propylene producers include Chevron Phillips Chemical, Enterprise Products, ExxonMobil, Flint Hills Resources and Shell Chemical.
Major buyers include Ascend Performance Materials, Braskem, Dow Chemical, INEOS and Total.
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