US March propylene contract prices were fully settled 1.5 cents/lb ($33/mt) lower from February, market sources said Friday.
The decrease is the second consecutive decline in contract pricing this year, and puts chemical-grade propylene at 70.50 cents/lb ($1,554/mt) and polymer-grade propylene prices at 72 cents/lb ($1,587/mt).
Initial nominations from ExxonMobil Chemical called for a 1 cent/lb decrease for chemical-grade and polymer-grade propylene, while Shell Chemical called for a rollover on CGP pricing.
Spot PGP was last assessed March 7 at 70 cents/lb delivered, and heard bid Friday at 69.5 cents/lb Mont Belvieu-pipeline basis, while offered Thursday at 70 cents/lb MtB-pipe. Spot PGP was last heard traded on Wednesday at 69.625 cents/lb, 69.75 cents/lb and 70 cents/lb MtB-pipe for March deliveries.
