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July ethylene contracts partly settle in US

by ChemOrbis Editorial Team -
  • 03/08/2017 (13:38)
According to market sources, an initial July ethylene contract has been settled in the US with a decrease of 1.25 cents/lb ($27.5/ton) from June at 29.25 cents/lb ($645/ton) FD USG. However, the new settlement is yet to see a market-wide acceptance.

The decrease in the initial July settlement stemmed from lower spot prices, which dipped to the lowest levels seen since early February 2016 during July, according to weekly average levels on ChemOrbis Price Wizard, given high inventories.

However, spot ethylene prices have recently recovered amid a pickup in crude oil prices. In the US, spot prices were last reported at 22.5 cents/lb ($496/ton) FD USG, up 2.875 cents/lb ($63/ton) from a week earlier.
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