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October ethylene contracts settle down 2.5 cpp
HOUSTON, November 1, 2018 (PCW) –- Certain parties settling monthly ethylene contracts have been confirmed to have reached agreement at 31.25 cpp for October, down 2.5 cpp from September. Contracts typically settle retroactively for the previous month during the few days of the next month. Not all parties were in full agreement, however.
One year ago, the October 2017 contract price was 34.25 cpp. Contract prices in 2018 have ranged from a low of 26 cpp (May to a high of 33.75 cpp (September).
October spot ethylene traded in a range of 17.75-23.75 cpp for Texas and Louisiana combined. The October 30-day weighted average was 19.971 cpp (down 1.625 cpp from September) and the 45-day weighted average was 19.931 cpp (down 0.864 cpp from September).
Cash costs using ethane averaged 17.351 cpp during October, down 4.444 cpp from September. Costs using propane averaged 23.921 cpp (down 3.325 cpp) and costs using butane averaged 22.243 cpp (down 1.798 cpp).
Maximum steam cracker operating rates in the US Gulf Coast were estimated to be slightly below 90% during October. -- Kathy Hall