US propylene contract prices for October have settled higher by 4 cents, with polymer-grade propylene closing at 76.50 cents/lb and chemical-grade propylene at 75 cents/lb, as per sources in Platts.
Market expectations early in the week called for 5 cent increases in US contract prices for PGP and CGP. Discussions of a settlement picked up Wednesday, with sources citing an initial unconfirmed agreement at an increase of 4.50 cents/lb.
Initial nominations for October contracts in late September saw a call for a 5 cent increase for PGP and CGP contract prices, sources said, adding that ExxonMobil Chemical made the initial nominations. Two days later, Shell Chemicals nominated CGP prices at a 3 cent increase. A renomination for an 8 cent increase in both grades then occurred, market sources said, who identified the producer as ExxonMobil Chemical.
20-Oct-14 
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