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July propylene contracts settle with increase
HOUSTON, July 20, 2016 (PCW) -- July propylene contracts settled on Wednesday at 33.5 cpp for PGP and at 32 cpp for CGP, representing a 0.5 cpp increase from June.
The settlement adds to June's prices, which reached their highest level since August 2015 (when they were 33 cpp for PGP and 31.5 cpp for CGP), but are below the July 2015 settlement prices of 36.5 cpp for PGP and 35 cpp for CGP.
Spot propylene market activity has been thin this week, with the only trade seen so far being a 31 cpp Oct paper deal done on Tuesday. July spot PGP was bid up to 31.25 cpp on Tuesday and Aug was was bid up to 31.5 cpp on Wednesday. For the month-to-date, July PGP has averaged at 30.76 cpp on a calendar basis and 30.79 cpp on a weighted average basis. -- Kathy Hall