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US September propylene contracts settle with some at decrease
HOUSTON, September 21, 2018 (PCW) –- Certain parties settling US September propylene contracts have agreed to a decrease of 1 cpp this week, bringing polymer grade prices to 60 cpp and chemical grade prices to 58.5 cpp. Not all parties have agreed to this price, however, and settlements were not considered to be marketwide as of Friday.
Spot PGP for September delivery has traded in a range of 57-57.75 cpp so far this month, compared to a range of 58-60.25 cpp in August. The MTD 30-day weighted average for Sep PGP was 57.355 cpp, compared with 59.593 cpp in August. The MTD 45-day weighted average for September PGP was 57.182 cpp, compared with 59.815 in August.
On the feedstock side, spot refinery grade propylene has traded in the 45-46 cpp range (delivered pipeline basis) during September, compared with 43.75 cpp in August. Spot propane (used to feed PDH units), averaged 105.692 cpg (24.986 cpp) so far this month, compared with 97.554 cpg (23.062 cpp) in August. -- Kathy Hall