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PetroLogistics LP Message Board

  • jrad52 jrad52 Jan 30, 2013 9:09 AM Flag

    Ashland reports Q4 - propylene comments

    ASH reported Q4 results a day or 2 ago; its water treatment business did not do well, and they attributed (a small) part of the problem to price increases in propylene. They would not comment on what they were projecting for propylene pricing for the current quarter. But the Credit Suisse analyst who asked the question about propylene pricing indicated that prices were continuing to rise. This morning, CS came out with a report on ASH , they reduced their projections for the water treatment business due to propylene pricing. I don't follow ASH, and CS's comment on this makes little sense to me but clearly they think pricing will increase.

    I understand that there are numerous types of propylene, and I have no idea if the price increases are across the board or not, or if they will affect the type of propylene that PDH produces, but it sounds like the market is strengthening, similar to comments made on this board by quantuon.

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    • They make different grades CGP/PGP I believe....PGP was on fire in Jan, producers looking for 5c more in Feb but buyers may balk....we'll see nominations next week...the spread is prob near the top end of the range for now...they'll be more PGP from EPD soon -fractionating RGP....but every sign is a 70+ c div for Q1...should rock the house....we'll no next week with CC...street is short so make sure u have room to add if they push it down b 4....volume up huge, much more than rule 144 would imply for this quarter (at most insiders sell 2mn this quarter)...new buyer in town...and steadfast capital increased position last quarter....good luck....