24 Jan – Initial January propylene contracts settle in US
According to market sources, initial January propylene contracts have settled with decreases for the third month in a row in the US. The settlements were down by 2 cents/lb ($44/ton) at 40 cents/lb ($881/ton) for polymer-grade propylene (PGP) and 38.5 cents/lb ($849/ton) for chemical-grade propylene, all FD USG.
The lower settlements came in line with market expectations amid healthy levels of output and higher domestic supplies.
Spot polymer-grade propylene prices in the US were last reported at around $816-827/ton (37-37.5 cents/lb) FD USG.