- Phillips66, TotalEnergies force majeures keep- Exxon places PP clients on
allocation: letter





The US Gulf Coast spot propylene levels were
down by almost $100-130 due to a lack of market activity. However, the upstream
propylene monomer was flat week-on-week because of the bearish market sentiment. The US export homopolymer injection grade PP was
down $88 from the previous week to $1,951-1,973/mt (88.5-89.5c/lb) FAS Houston.
This is despite rail car pricing indications at 83-84c/lb. The
co-polymer grade
was also assessed lower at $2.017-$2.039/mt (91.5-92.5c/lb) FAS Houston, due to
talk of a 3-cent premium for homopolymer grades. Import
pricing was discussed at 82 cents/lb railcar basis. Off-spec material is
available for about 10 cents/lb less. Sources
said that there is little demand for resin on the current market. Sources
said that resin demand is "very low" and...