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COVID-19 - News digest as of 24.02.2021

February 24/2021

1. US polymer-grade propylene prices reach record high on tight supply

MOSCOW (MRC) -- US polymer-grade propylene (PGP) prices have reached a record high as strained supply continues to meet heightened demand, said Chemweek. PGP prices have increased rapidly since the start of February as Enterprise Products took its propane dehydrogenation (PDH) unit in Mont Belvieu, Texas, down for a planned turnaround. Over the first two weeks of this month, PGP increased from its open of 73.375 cts/lb on 1 February to 98 cts/lb by 9 February. As of Tuesday morning, markets were relatively quiet as the impact of Winter Storm Uri was being assessed. Estimated refinery operable utilization rates in the Gulf Coast (PADD 3) were 84.3%, according to EIA data for the week ending 15 January. This is compared to 90.2% last year and 92.9% in 2019, reflecting refinery reductions that continue to linger following the decrease in fuel demand caused by COVID-19.
Author:Anna Larionova
Tags:petroleum products, PP, PP block copolymer, homopolymer PP, propylene, COVID-19.
Category:General News
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