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US propylene contracts settling lower

by ChemOrbis Editorial Team -
  • 17/07/2015 (15:03)
Market players in the US reported that propylene contracts for July have begun settling this week. They report a drop of 3 cts/lb ($66/ton) from the June level, which is below the initial announcements of a rollover. The settlement is in line with expectations, however, as buyers had been anticipating decreases of 3-4 cts/lb due to a build-up in inventory and a weaker energy complex.

The polymer grade propylene contract is reported at 37 cts/lb ($815/ton) and chemical grade at 35.5 cts/lb ($782/ton). This is reportedly the lowest level since May 2009.
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