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US April propylene contracts fully settle with decrease
HOUSTON, April 23, 2018 (PCW) –- Parties settling US April propylene contracts on a negotiated basis have agreed to a decrease of 1 cpp, bringing polymer grade prices to 46 cpp and chemical grade prices to 44.5 cpp.
Spot PGP for April delivery has traded in a range of 43.375-44.75 cpp FOB MtB-EPC so far this month, compared to a range of 42.75-45.75 cpp in March. The MTD 30-day weighted average for April PGP is 43.837 cpp, compared with 44.659 in March. The MTD 45-day weighted average for April PGP is 43.496 cpp, compared with 44.519 cpp from March.
On the feedstock side, spot refinery grade propylene (RGP) has risen from 30 cpp to 34.75 cpp (delivered pipeline basis) this month, compared with 29.5 cpp in March. Spot propane has averaged 79.458 cpg (the equivalent of 18.78 cpp) so far this month, compared to 78.97 cpg (18.67 cpp) in March. -- Kathy Hall