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U.S. spot propylene prices fall to 3-year low

 Last Update: 2022-08-21
 Source: Internet
 Author: User

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According to a report from Global Petrochemical News in Houston on December 5, 2019, the spot price of polymer-grade propylene in the United States fell 1.
25 cents on Thursday (5th) to its lowest level in more than three years, and market sources put spot propylene prices down The reason is attributed to oversupply and weak demand downstream

Statistics show that the spot polymer-grade propylene price was assessed at 29.
25 cents FD USG per pound on Thursday, compared to the last drop on March 4, 2016, when it was assessed at 28.
75 cents FD USG per pound

The weakening of downstream polypropylene demand has led to an oversupply of propylene, which has led to a drop in spot polymer-grade propylene prices, sources said

"The crackers and refiners are operating at a decent rate, so supply has increased and (arbitrage) has been closed for a while," a trade source said

The source also spoke about downstream propylene oxide production following the Nov.
27 explosion at TPC's port in Neches

Statistics show that spot polymer-grade propylene prices have fallen nearly 9% since November 27

The market expects propylene contract prices to fall by 3.
5-4.
5 cents per pound in December

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