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NGLs Week

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US May propylene contracts start to settle

HOUSTON, May 13, 2016 (PCW) -- Initial agreements for May propylene contracts were confirmed Friday afternoon at 32.5 cpp for polymer grade and at 31 cpp for chemical grade, unchanged from April. Agreements were not considered to be marketwide.

The agreements keep contract prices at their highest level since August 2015, when they were 33 cpp for PGP and 31.5 cpp for CGP.

Spot PGP has traded in a range of 30-30.5 cpp so far this month, compared with a range of 29.75-30.625 in April. -- Kathy Hall

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