U.S. Propylene Prices Poised to Skyrocket

North American propylene contracts are poised to skyrocket for the month of February with settlements reported to be nearly concluded at a gain of 16.5 cts/lb by CW press time. The settlement brings polymer-grade propylene to 72.5 cts/lb and chemical-grade propylene to 71 cts/lb. The deal represents a 29% premium over January contract prices. One U.S. propylene producer got the ball rolling with a 22-cts/lb increase for February contracts, while others nominated increases between 17 cts-22 cts/lb, market players say. Major propylene suppliers in North America...

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