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Prices in the $3-trillion-plus global petrochemicals marketplace surged in the first month of 2012, climbing 9 percent to $1,270 per metric ton in January, according to Platts. Propylene prices posted double-digit gains in January, climbing 13 percent to $1,200/mt, up from $1,057/mt in December. The increase was attributed to tightness in the market caused by cracker turnarounds.

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