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U.S. July Propylene Contracts Roll Over
9:41 AM MDT | July 13, 2010 | Lindsey Bewley
U.S. propylene contracts for July have rolled over, market sources say. Polymer-grade propylene (PGP) last settled at a decrease of 8 cts/lb, to 55.5 cts/lb for June, while chemical-grade propylene (CGP) also saw an 8 cts/lb decrease for June, settling at 54 cts/lb. Producers hoped to capitalize on recent price increases for spot propylene, which was influenced by both a steam cracker outage in mid-June and fluctuating crude oil prices. Spot PGP gained about 3 cts/lb in late June, to 57 cts/lb, while CGP also rose about 3 cts/lb, to 56 cts/lb, market sources say...
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