IHS Chemical Week

Olefins Prices Continue to Decline

11:05 AM MDT | May 31, 2012 | Lindsey Bewley

Ethane fell about 6 cts/gal, while propane declined by the same amount. Butane dropped 11 cts/gal, while naphtha was lower by about 15 cts/gal. Among spot olefins, ethylene dropped to its lowest point this year, to 53 cts/lb, on weakening ethane values. Propylene spot prices followed suit, sagging about 2 cts/lb. Spot butadiene, meanwhile, fell about 12 cts/lb, while settlements for June plunged about 50 cts/lb, to $1.08/lb. Olefins contact settlements for June tumbled in northwest Europe this week, with butadiene leading the way with a vertiginous plunge...

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