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NGLs Week

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NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.

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US propylene contracts settle at increase; spot outpaces CP

HOUSTON, January 25, 2017 (PCW) – Parties settling US January propylene contracts have agreed to an increase of 9 cpp from December pricing, bringing polymer grade to 59 cpp and chemical grade to 57.5 cpp. Agreements are understood to have become market-wide on Wednesday.

Spot PGP for January delivery has traded in a range of 56.75-68.5 cpp so far this month, compared to a range of 48-52 cpp in December. PGP supply remained tight as PDH units have struggled with various production issues during the month. Most splitters and steam crackers were operating normally.

The MTD 30-day January weighted average for PGP was 63.879 cpp, up 15.001 cpp from December. The MTD 45-day January weighted average for PGP was also 63.879 cpp, up 15.413 cpp from December.

On the feedstock side, spot refinery grade propylene (used to feed PGP and CGP splitters) has traded in a range of 37-40 cpp (delivered pipeline basis) so far this month, compared to 34-37.5 cpp in December. Spot propane (used to feed PDH units), averaged 91.3 cpg so for this month (the equivalent of 21.58 cpp) compared to 95.75 cpg (22.63 cpp) in December. -- Kathy Hall

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