Propylene exports from the US Gulf Coast to key destinations in Latin America totaled 35,500 mt in January, down 900 mt from December, American Fuel and Petrochemical Manufacturers data showed Monday.
Colombia imported 18,100 mt, 2,700 mt less month on month, while Mexico imports rose 1,800 mt or nearly 12% to 17,400 15,600 mt from December, data showed.
Colombia is home to polypropylene producer Esenttia. Its parent, state-owned Ecopetrol, is in the process of selling it as part of a larger divestment plan. Polypropylene producer Indelpro is in Mexico.
Market participants have been watching for price hikes in the US spot market and talk of higher contract pricing in March after contracts settled 6.5 cents/lb higher in February and expectations are for an additional increase in March.
S&P Global Platts assessed US spot polymer-grade propylene 0.50 cent higher Monday at 51.25-51.75 cents/lb FD USG for prompt-month deliveries.
