July Propylene Contracts Roll Over

U.S. propylene contracts for July have rolled over, disappointing producers who had hoped to capitalize on recent price increases for spot propylene. Increases were influenced by both CPChem’s steam cracker outage at Port Arthur, TX in mid-June and fluctuating crude oil prices, market watchers 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. Contract prices have steadily dropped since April, when PGP settled at a...

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