Refinery-grade propylene prices in US decrease by US$0.05/lb.-US$0.06/lb. from US¢60.25/lb. in May
LONDON , June 17, 2014 (ICIS Chemical Business (CBNB Abstracts)) – Low prices of feedstock refinery-grade propylene (RGP) and sufficient supply have caused US barge acetone and truck prices to weaken in May 2014 settling 1 cent/lb ($22/tonne) lower than in Apr 2014. Barge acetone prices declined from 67.25 cents/lb in Apr 2014 to 66.25 cents/lb in May 2014. RGP prices decreased by 5-6 cents/lb from 60.25 cents/lb in May 2014. The three biggest producers in the US (INEOS Phenol, Axiall, and Shell) and the three biggest buyers (Lucite, Dow Chemical, and Evonik) usually negotiate the contract prices of US barge acetone. There was an average of 3 cents/lb decrease in the US truck market resulting in May 2014 delivered contract prices at 71-75 cents/lb.