COMMENTARY

Plunging crude oil and feedstock prices last week depressed prices of most petrochemicals in the U.S. Ethylene spot prices dropped about 3 cts/lb last week, in line with slow demand and lower costs. Trade was reported on either side of 32 cts/lb del, and offers were heard at 32.5 cts/lb del for January delivery. A February spot cargo reportedly traded at 33 cts/lb del. Ethylene producers are eyeing increases of 2 cts-3 cts/lb for January contracts, but observers say this could prove difficult in light of the significant discount that spot cargoes are trading at...

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