Material Insights · Understanding the Material World

Propylene: Trading

What propylene costs in Texas, Europe and Asia

What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

Who buys, and where

  • US Gulf (Mont Belvieu PGP, export terminals)
  • Korea and Japan cracker surplus
  • Middle East (mostly as PP)

Who sells, and from where

  • China and Taiwan (derivative plants)
  • Southeast Asia
  • India (derivatives, small volumes)

Price benchmarks

BenchmarkPublisherBasis
Propylene CFR ChinaS&P Global Platts / ICISspot, daily/weekly
Polymer-grade propylene Mont BelvieuOPIS, Platts, Argusspot pipeline, daily; monthly contract
Polymer-grade propylene NWE contractPlatts/ICISmonthly contract, FD NWE
PP Raffia CFR Far East AsiaPlattsspot, weekly

Exchanges

VenueContractNotes
Dalian Commodity ExchangePolypropylene futures (5 t lots)most liquid proxy for propylene chain risk
CME GroupMont Belvieu PGP and propane swaps (indicative)propane swaps liquid; PGP thin

Contract types

  • Monthly contracts linked to naphtha or propane in Europe and US
  • Spot cargoes on pressurised or semi-refrigerated LPG carriers
  • Term propane supply deals for PDH (e.g. Wanhua with Kuwait Petroleum, Apr 2025)

Traders and distributors

  • Vitol
  • Trafigura
  • Mitsui
  • Mitsubishi Corporation
  • Marubeni
  • Sinochem

How Indian buyers price it

  • Most Indian propylene is used captively by refiners; merchant sales are priced at import parity to CFR China or SE Asia.
  • PP is sold on producer list prices (Reliance, IOCL, HMEL, GAIL) revised every one to two weeks.
  • No current DGTR duty on propylene itself.

Recent price points

DatePriceBasisSource
19 Nov 202523.75 c/lb (about $524/t)FD US Gulf Coast PGPS&P Global Platts H1 2026
23 Dec 2025€622.50/tNWE polymer gradeS&P Global Platts H1 2026
Dec 2025$700s/t (expected for 2026)CFR AsiaChemOrbis Dec 2025
Aug 2026NE Asia import prices rose for two straight weeks; no level publishedCFR NE AsiaICIS via Hellenic Shipping News, Aug 2026

Good sources to follow

Platts Chemical Trends H1 2026freemium research site · S&P Global Commodity Insights

Propylene, PDH and PP margins

Mysteel Globalfreemium research site · Mysteel

Chinese propylene, PO and PP capacity and prices

ChemOrbis plastics newsfreemium research site · ChemOrbis

Asian olefins and PP prices

Argus Chemicals podcastsfree podcast · Argus Media

Olefin market outlooks