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US Jan ethylene contract agreements settle with small increase
HOUSTON, February 2, 2018 (PCW) –- Parties settling monthly ethylene contracts have been confirmed to have reached agreement at 32.75 cpp for January, up 0.25 cpp from December.
One year ago, the January 2017 contract price was 33.5 cpp. Contract prices in 2017 ranged from a low of 29.25 cpp (July) to a high of 35.75 cpp (February).
Jan spot ethylene traded in a range of 24.75-29.5 cpp for Texas and Louisiana combined; its 30-day weighted average was 27.877 cpp (up a scant 0.17 cpp from December) and its 45-day weighted average was 27.884 cpp (up 0.0227 cpp).
Steam cracker operating rates in the US Gulf Coast were about 90% in January, compared to 87-88% in December, and 93-94% a year prior.