US ethylene contact prices are fully settled 5 cents/lb lower, with November at 45.50 cents/lb, market sources said Thursday.
It’s the largest month-on-month decline in two and a half years, Platts data showed.
The drop was within expectations after lower spot prices were seen in large part due to the shutdown of the Evangeline pipeline linking Texas to Louisiana, and expectations of resumed ethylene production later this month at Williams Partners’ Geismar, Louisiana, olefins plant.
US ethylene contracts are typically settled retroactively on a monthly basis and take into consideration spot ethylene and feedstock prices.
With the net transaction price for November heard settling at 45.50 cents/lb, the posted price for November would decline to 50 cents/lb, Platts data showed.
– Platts.com
