Prices Rising on Supply Tightness and Growing Demand

North American olefins prices are tracking upward in December, fueled by renewed demand among buyers and tightening supplies. Polymer-grade propylene (PGP) ticked higher by about 3 cts/lb, to about 59 cts-60 cts/lb in early December, while producers settled December contracts at a gain of 3 cts/lb for both grades of propylene. December PGP is now pegged at 60.5 cts/lb, while chemical-grade propylene is at 59 cts/lb. “With limited availability and rising refinery-grade propylene spot prices, producers were led to nominate contracts higher,” says a market...

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