U.S. Olefins Contract Prices Dip

U.S. olefins contract prices have certainly cooled off in the last two weeks, as both ethylene and propylene contracts settled at a loss.  Ethylene contract for May was settled at a 7.75 cts/lb decrease, to 44.75 cts/lb. Propylene contracts for June, meanwhile, plunged 8 cts/lb for both grades of material. This places PGP at 55.5 cts/lb and CGP at 54 cts/lb. Spot ethylene prices continue to decline, with current market pricing around 31-32 cts/lb, market watchers say. The decrease in spot pricing comes from increased supply and moderate ethane prices...

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