IHS Chemical Week

Economics :: Prices

Spot Ethylene Prices Plummet on Weak Demand, Lower Crude

12:34 PM MDT | October 24, 2008 | Rebecca Coons

Olefin markets have responded to sluggish demand and economic uncertainty with big price falls, market sources say. U.S. spot ethylene prices have fallen 25 cts/lb in the past three weeks, to 30 cts-31 cts/lb. Prices have fallen more than 50% from a mid-July peak of 69 cts-70 cts/lb, sources say. The drop is roughly in line with crude oil prices, which peaked at $147/bbl on July 11 and fell below $75/bbl last week. Feedstock prices dropped from peak levels faster than ethylene prices during the latter half of the third quarter, causing ethylene margins to...

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