Commodity Market Report
Olefins - Propylene Americas Monthly Market Overview October 2019
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Report summary
October spot PGP (polymer grade propylene) decreased to near 35 cts/lb averaged month to date, decreasing 1 ct/lb from September. RGP (refinery grade propylene) fell to 22 cts/lb, increasing the PGP-RGP spread by about 1 ct/lb over last month. September PGP contract settled +1 ct/lb from August, to 39 cts/lb. October has yet to settle. Dow announced they will be taking a turnaround at their PDH in Q4. Flint Hills was heard to begin a turnaround at their cracker in mid-October. Propane has remained advantaged in the US cracker feedslate over ethane for the fifth consecutive month, boosting by-product supply for a longer season than usual. Propane cracking is expected to remain advantaged to or at parity with ethane cracking until January 2020.Refinery byproduct propylene supply is expected to increase through the rest of the winter as FCC operating rates increase.
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