IHS Chemical Week

Chemical Week Magazine :: Basic Chemicals & Plastics

June Propylene Prices Tank in North America

7:39 AM MDT | June 15, 2012 | —Lindsey Bewley

North American propylene prices have taken a nosedive in recent weeks as global oil and petrochemical prices slide. June contracts settled recently at a decrease of 15.5 cts/lb, putting polymer-grade propylene (PGP) at 52 cts/lb and chemical-grade propylene (CGP) at 50.5 cts/lb. The settlement represents a 23% decline from May contract prices. “At these price levels, U.S. derivative producers have moved into a globally competitive position,” IHS Chemical says. “Polypropylene demand is heard to be much stronger as converters look to...

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