From PetroChem Wire . . . .
PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.
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US December ethylene contracts settle for most at rollover
HOUSTON, January 2, 2019 (PCW) –- Certain parties settling monthly ethylene contracts reached agreement on Wednesday at 29.25 cpp for Dec 2018, unchanged from Nov. Contracts typically settle retroactively for the previous month during the few days of the next month. Not all parties were in full agreement, however, as one consumer did not accept the offer for Dec.
A year prior, the Dec 2017 contract price was 32.5 cpp. Contract prices in 2018 ranged from a low of 26 cpp (May) to a high of 33.75 cpp (Sep).
Dec spot ethylene traded in a range of cpp for Texas and Louisiana combined. The Dec 30-day weighted average was 20.391 cpp (up 0.179 cpp from Nov) and the 45-day weighted average was 20.411 cpp (up 0.098 cpp from Nov).
Cash costs using ethane averaged 13.03 cpp during Dec, down 0.556 cpp from Nov. Costs using propane averaged 19.061 cpp (up 0.5 cpp) and costs using butane averaged 20.25 cpp (down 0.219 cpp).
Maximum steam cracker operating rates in the US Gulf Coast were estimated to be slightly above 93% during Dec. -- Kathy Hall