U.S. spot petrochemical product prices fall as Iran premium gradually fades

```htmlGolden Ten Data reported on June 16 that last week, US petrochemical product prices continued to weaken as easing tensions between the US and Iran affected export demand. However, a series of operational issues along the Gulf Coast limited further price declines. US ethylene prices fell by 4.1%, while polymer-grade propylene (PGP) dropped by 9.8%. Traders said that as geopolitical risk premiums related to the conflict with Iran gradually dissipate, declining export demand continues to put pressure on the petrochemical product market. Nevertheless, prices for both products remain above pre-war levels. The Middle East war caused significant disruptions in the transportation of key feedstocks and chemicals through the Strait of Hormuz, leading to a sharp increase in spot market prices for US petrochemical products and global supply shortages, boosting export demand for US products. Despite the price drop, the price for benzene dibutyl ether remains stable at 63.5 cents per pound. Over 70% of this chemical is used to synthesize rubber tires, making it one of the most resilient products in the petrochemical industry this year.```