Crude oil prices fell steeply on Thursday on the back of a rise in the value of the US dollar. Brent crude prices fell by USD 3.28 settling at $92.36 per barrel while WTI futures decreased by USD 2.94 settling at $86.61 per barrel.
– On Thursday, open spec naphtha prices gained by USD 19/mt at USD 658/mt CFR Far East Asia levels.
– On Thursday in Asia, ethylene and propylene prices were assessed steady on the back of quiet regional buying sentiments.
Polypropylene (PP) in the USA
This week, PP export prices dropped steeply in the United States. The price fall was triggered by weaker upstream polymer grade propylene values and sufficient product avails in the region.
PP homopolymer prices were assessed at the USD 1270-1290/mt levels, a sharp drop of USD (-50/mt) from the previous week. FAS Houston PP copolymer prices were assessed at the USD 1330-1350/mt FAS Houston levels, a steep week on week drop of USD (-60/mt).
In the domestic markets, railcar delivered PP homopolymer injection grade prices were assessed at the 80.00-80.50 cents/lb mark, a decline of (-2 cents/lb).
Upstream polymer grade propylene spot prices were at the 45.00-45.50 cents/lb FOB US Gulf mark, a marginal week on week rise of (+0.5 cents/lb).
The US propylene contract prices for August settled at the 49.00 cents/lb mark for polymer grade propylene and 47.50 cents/lb mark for chemical grade propylene. These prices represent a rise of 2.00…
