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US Oct ethylene contract agreements settle with decrease
HOUSTON, November 2, 2017 (PCW) – Parties settling monthly ethylene contracts have been confirmed to have reached agreement at 34.75 cpp for October, down 0.5 cpp from September.
Contracts began 2017 at 33.5 cpp. The monthly contract price high in 2017 was 35.75 cpp in Feb. One year ago, the October 2016 contract price was 35.5 cpp.
October spot ethylene traded in a range of 26.5-31 cpp for Texas and Louisiana combined; its 30-day weighted average was 29.063 cpp (down 1.669 cpp from September) and its 45-day weighted average was 30.206 cpp (up 0.229 cpp).
Steam cracker operating rates in the US Gulf Coast were at 75.5% in October, compared to 66.3% in September and 91.2% for the year-to-date. Several crackers shuttered during Harvey were only just beginning the restart process, while Dow’s St Charles olefins units were still down for planned turnarounds. -- Samantha Hartke