Spot Ethylene Ends its Run, But Cost Pressures Remain

Spot ethylene prices in the U.S. have fallen almost 7 cts/lb since mid-July after a 12-week run that brought prices to a peak of 69 cts-70 cts/lb, market sources say. One spot deal was concluded last week at 63.5 cts/lb, a discount to the current May contract price of 65.5 cts/lb. Spot ethylene is following ethane prices lower, market sources say. Ethane eased into a 135 cts-137 cts/gal range last week after reaching 154 cts/gal the previous week, sources say. The restart of Formosa Plastics’ Point Comfort, TX No. 2 olefins unit has also added supply to the...

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