US Petrochemical Rally Falters as Demand Shows Cracks

Some US petrochemical prices pulled back last week after two months of gains as demand showed early signs of weakening.

Spot ethylene fell 5.5 cents to 28 cents a pound, its first weekly decline in eight weeks, while polymer-grade propylene, or PGP, dropped 16.5 cents to about 45 cents a pound. Both remain well above pre-war levels of roughly 18 cents and 33.5 cents a pound, respectively. The chemicals are key building blocks for plastics used in packaging, construction and consumer goods.