US spot polymer-grade propylene hits 11-year low

Houston — US spot polymer-grade propylene prices fell 1.75 cents Thursday to the lowest level in 11 years, S&P Global Platts data showed.

Spot PGP was assessed Thursday at 24.75 cents/lb FD USG and was last lower March 20, 2009, when it was assessed at 24.4375 cents/lb, according to Platts data.

Sources attributed the fall in pricing to declining crude oil prices.

A March PGP trade was heard done at 23.5 cents/lb MtB-Pipe after the Platts Market on Close assessment process.