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US ethylene contract settles for January
HOUSTON, February 2, 2016 (PCW) -- US ethylene contracts for January settled at 24.75 cpp, which is down 1 cpp from December monthly contracts.
Spot February traded at 18 cpp on Monday basis Mt Belvieu. February Louisiana ethylene did not trade Monday; it was bid at 0.5 cpp above Mt B and offered at 1 cpp above Mt B. Spot ethylene's January weighted average was 17.634 cpp for Texas and 17.829 cpp for Texas and Louisiana combined, compared with 18.717 cpp (TX) and 18.742 cpp (TX & LA) in December.
Upstream spot ethane prices averaged 15.086 cpg (or 5.08 cpp) in January, compared with 15.051 cpg (5.07 cpp) in December.
The January 2016 contract price is the lowest seen since December 2002, when the contract settled at 24 cpp. The lowest contract price according to PCW data was in January and February 2002, when the contract price was 19 cpp for both months. -- Kathy Hall
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