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Widespread agreement seen for January US PGP contract
HOUSTON, January 26, 2016 (PCW) -- Marketwide agreements were confirmed Tuesday for January polymer grade propylene contracts at 31.5 cpp, which is down 0.5 cpp from December monthly contracts.
Contracts began settling Tuesday morning and were considered to be fully settled by late afternoon.
Spot PGP has traded from 29.5 cpp at the start of January down to 28 cpp on Monday. Spot PGP's MTD January weighted average as of Jan 26 was 29.201 cpp, compared with 29.560 cpp in December.
Upstream spot refinery grade propylene prices have averaged 18.375 cpp (pipeline) so far in January, compared with 18.783 cpp in December. -- Kathy Hall