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NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.

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September ethylene contract settles with increase

HOUSTON, October 4, 2016 (PCW) – Parties settling monthly contracts have been confirmed to have reached a September ethylene contract price of 35.75 cpp, up 2.75 cpp from August.

This is the highest contract settlement price since the December 2014 NTP of 38.25 cpp.

September spot ethylene last traded at 35.75 cpp last Tuesday. The 30-day September ethylene calendar average was 37.464 cpp on Friday, up 3.192 cpp from August. The 30-day weighted average came in at 38.698 cpp (up 3.712 cpp from August) for Texas and 38.661 cpp (up 3.839 cpp) for Texas-Louisiana combined. The 45-day ethylene weighted average was 38.095 cpp (basis Texas only), up 4.838 cpp from August.

In terms of cash costs, ethane-based costs in the Gulf region in September averaged 9.192 cpp, up from 8.171 cpp in August. Propane basis costs in September averaged 5.658 cpp, up from 4.576 cpp in August.

The increase in the contract price comes amid a continued rash of ethylene plant outages. The Gulf Coast cracker operating rate in September was 93.6%, down from 94% year-to-date. Some 311 million pounds of ethylene output was lost in September, according to PetroChem Wire estimates. -- Samantha Hartke

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