(Bloomberg) — US spot petrochemical prices softened across the board last week as export demand for the plastics building blocks appears to weaken for the month of June.
Spot ethylene fell almost 17%, sliding for a third straight week. Polymer-grade propylene, or PGP, dropped about 8% in its fourth consecutive week of declines or unchanged pricing. Ethylene is used to make polyethylene plastics found in packaging and consumer goods, while PGP is a feedstock for polypropylene used in automotive parts, textiles and containers.
The broader pullback suggests appetite for US petrochemicals has cooled following months of elevated pricing. Weaker export demand for June appears to be driving the current softening, according to traders.
The drop follows a recent uptick in shipments spurred by the war in Iran. US petrochemical prices had previously surged as the conflict disrupted global oil and chemical trade flows boosting export demand for low-cost US feedstocks and plastic resins. US Gulf Coast ethylene exports climbed to about 83,000 barrels a day in May — the most shipments in 2026 and about a 46% increase from April loadings, according to analytics firm Kpler.
Still, US feedstocks remain relatively competitive with prices for key input material ethane ending the week slightly higher at about 21 cents a gallon.
US Gulf Coast spot prices (as of May 29):
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