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US June propylene contracts settle with increase
HOUSTON, June 26, 2018 (PCW) –- Parties settling US June propylene contracts have agreed to an increase of 8 cpp, bringing polymer grade prices to 59 cpp and chemical grade prices to 57.5 cpp.
Spot PGP for June delivery traded in a range of 53.5-61.25 cpp, compared to a range of 44.5-59 cpp in May. The 30-day weighted average for June PGP was 58.984 cpp for MtB-EPC only and 58.397 cpp for all Texas delivery, compared with 52.183 cpp (MtB-EPC) and 50.753 cpp (all TX) in May. The MTD 45-day weighted average for June PGP was 58.997 cpp (MtB-EPC) and 58.432 cpp (all TX), compared with 51.222 cpp (MtB-EPC) and 50.114 cpp in May.
On the feedstock side, spot refinery grade propylene rose from 41.5 cpp to 43 cpp (delivered pipeline basis) during June, compared with 42 cpp in May. Spot propane (used to feed PDH units), averaged 88.036 cpg (20.182 cpp), compared with 91.42 cpg (21.612 cpp) in May.