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US March propylene contracts settle with decrease
HOUSTON, March 21, 2018 (PCW) –- Parties settling US March propylene contracts have agreed to a decrease of 6 cpp, bringing polymer grade to 47 cpp and chemical grade to 45.5 cpp.
Spot PGP for March delivery traded in a range of 42.75-45.5 cpp, compared to a range of 45.25-50 cpp in February. The 30-day March weighted average for PGP is 44.659 cpp, down from 47.625 in February. The 45-day March weighted average for PGP is 44.519 cpp, down from 58.917 cpp from February.
On the feedstock side, spot refinery grade propylene (used to feed PGP and CGP splitters) traded consistently at 29.5 cpp (delivered pipeline basis) this month, compared to 28.5-31 cpp in February.
Spot propane (used to feed PDH units), averaged 78.339 cpg (the equivalent of 18.52 cpp), compared to 87.349 (20.65 cpp) in February.