Commodity Market Report
Olefins - Propylene Americas Monthly Market Overview December 2019
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Report summary
December spot PGP (polymer grade propylene) decreased to 29.50 cts/lb averaged month to date, decreasing 1.9 ct/lb from November. RGP (refinery grade propylene) fell to 17 cts/lb. The PGP-RGP spread decreased by about .5 ct/lb over last month. November PGP contract settled at 35 cts/lb. December PGP contract discussions are still underway. Ethane continued to be the advantaged US cracker feedslate over propane. Ethane cracking is expected to remain advantaged to or at parity with propane cracking through January 2020. Propylene demand decreased through December while PP production operating rates have shrunk as PP suppliers enter a seasonal inventory destocking period. Demand is expected to ramp back up in the beginning of 2020.
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