November ethylene contracts settle in the US
by ChemOrbis Editorial Team - content@chemorbis.com
According to market sources, November ethylene contracts have been settled in the US. Ethylene contracts settled down 5.25 cents/lb ($115/ton) from October at 30.25 cents/lb ($666/ton).
The size of the decrease in November contracts exceeded the market expectations, which were calling for a decrease of 4-5 cent/lb ($88-110/ton).
The drop was attributed to improved stock availability following the end of turnarounds and some sellers’ efforts to deplete their inventories before the year ends.
In the US, spot ethylene prices were reported on the week at around 25 cents/lb ($551/ton),up 0.5 cent/lb ($11) from a week earlier but down by more than 2 cents/lb ($44/ton) from early November.
The size of the decrease in November contracts exceeded the market expectations, which were calling for a decrease of 4-5 cent/lb ($88-110/ton).
The drop was attributed to improved stock availability following the end of turnarounds and some sellers’ efforts to deplete their inventories before the year ends.
In the US, spot ethylene prices were reported on the week at around 25 cents/lb ($551/ton),up 0.5 cent/lb ($11) from a week earlier but down by more than 2 cents/lb ($44/ton) from early November.
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