November ethylene contracts settle in the US
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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