Commodity Market Report
North America propylene short-term outlook November 2019
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Report summary
November spot PGP (polymer grade propylene) decreased to near 31 cts lb averaged month to date, decreasing 4 cts lb from October. RGP (refinery grade propylene) fell to 20 cts /lb. The PGP RGP spread decreased by about 2 ct lb over last month. November PGP Contract settled 2.5 cts lb from October to 35 cts/lb. Ethane moved into advantage in the US cracker feedslate over propane for the first time in five months. Ethane cracking is expected to remain advantaged to or at parity with propane cracking through January 2020. Refinery byproduct propylene supply is expected to increase through the rest of the winter as FCC operating rates increase after the fall turnaround season.
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