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US December ethylene contracts settle at 2.75 cpp decrease
HOUSTON, January 5, 2016 (PCW) -- December ethylene contracts were settling at 25.75 cpp Tuesday, representing a 2.75 cpp decrease from November.
Spot ethylene prices in December averaged 18.7 cpp, down nearly 4 cpp from the November ethylene weighted average price of 22.6 cpp. Upstream, spot ethane prices averaged 15 cpg (5 cpp) in December, down from 18 cpg (6 cpp) in Nov. Spot propane prices averaged 38.7 cpp (9 cpp), down from 42.9 cpg (10 cpp) in November.
The ethylene contract price began 2015 at 35.25 cpp in January, its high for the year. In August, the contract dropped to 29.5 cpp, the first time it was below 30 cpp since December 2008.
January spot ethylene remained below 20 cpp so far this week, last trading at 19 cpp on Monday. At 2 pm Central Time, on Tuesday, January was bid at 18.75 cpp and offered at 19.25 cpp. -- Kathy Hall
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