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December propylene contracts start to settle in US

by ChemOrbis Editorial Team -
  • 08/12/2014 (17:27)
December propylene contracts have started to settle in the US, according to market sources. The new propylene contracts are settling with a decrease of 7.5 cents/lb ($165/ton) from November at 64 cents/lb ($1411/ton) FD USG for polymer-grade propylene and at 62.5 cents/lb ($1378/ton) for chemical grade. If these figures find widespread acceptance, the propylene contract will fall to the lowest level seen since May 2013.

Market expectations called for 5-7.5 cents/lb ($110-165/ton) decreases, putting the initial agreements within the expected range of declines. Production increases, lower refinery-grade propylene and ethylene prices as well as declining crude oil costs were blamed for the decreases.
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