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Olefins Prices On the Upswing
1:26 PM MST | February 15, 2012 | Lindsey Bewley
Commodity petrochemical prices accelerated gains this week, if unevenly. Spot ethylene ticked up by 4 cts/lb, while both grades of propylene were higher by a penny. Spot butadiene was higher by 2 cts/lb. The big story came in contract settlements for February butadiene, which concluded at an unusually wide range of $1.18- $1.30/lb. Some contracts rose by 18 cts/lb on the high end and about 13 cts/lb on the low end. Contracts for ethylene settled at a gain of 1 ct/lb, to 55.75 cts/lb for the month of January. On the feedstocks side, ethane prices have dropped...
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