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Initial July ethylene contract agreement confirmed at rollover
HOUSTON, August 1, 2016 (PCW) –- An initial July ethylene contract agreement was confirmed on Monday at rollover from the June price of 30.25 cpp.
July spot ethylene last traded at 30 cpp on Friday. The 30-day July ethylene calendar average was 27.469 cpp on Friday, up 2.565 cpp from June, while the 30-day weighted average came in at 27.652 cpp (up 2.563 cpp from June) for both Texas and Texas/Louisiana combined. The 45-day ethylene weighted average was 26.565 cpp (basis Texas only), up 1.44 cpp from June.
In terms of cash costs, ethane-based costs in the Gulf region in July averaged 9.356 cpp, down from 10.869 cpp in June. Propane basis costs in July averaged 9.306 cpp, down from 11.335 cpp in June. -- Samantha Hartke