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February propylene contracts settle in US

by ChemOrbis Editorial Team -
  • 20/02/2015 (14:06)
February propylene contracts have been fully settled in the US, according to market sources. The contracts were settled with an increase of 1 cent/lb ($22/ton) from January at 50.5 cents/lb ($1113/ton) FD USG for polymer-grade propylene and at 49 cents/lb ($1080/ton) for chemical grade. The new contract settlements represented the first increase in four months.

Initial nominations had called for 2 cent/lb ($44/ton) increases although buyers were expecting a 1 cent drop. A number of refinery outages and an ongoing national strike at several refineries caused spot prices for polymer grade propylene to firm up, which also supported the higher outcome on the contracts.
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