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"ICIS-LOR provides global benchmarks for the polymers industry and is well positioned to serve the increasing needs of the dynamic PP and PE markets," said Andy Soloman, ICIS-LOR Global Editorial Director.
ICIS-LOR ICIS-LOR, an independent pricing and market intelligence service from ICIS, provides petrochemical and oil markets with reports published daily, weekly or monthly on more than 120 commodities.
According to ICIS-LOR estimates, a higher 1.1m b/d of crude distillation capacity will be down in March followed by 924,000 b/d in April.
Under a sales and purchase agreement, TPI is required to buy, receive and pay propylene produced by CAPC channeled through pipe under a formula of P=(E-20) US$/ton, with E as the average price of propylene in Southeast Asia as reported by ICIS-LOR in four weeks that is average of the ICIS-LOR price in the past two weeks in the month before the purchasing month and first two weeks in the purchasing month.
According to ICIS-LOR, the new supply may not be enough to meet that demand.
A source at market-research firm ICIS-LOR in Houston projects PP price stability for most of 2000.
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