Ethylene Contracts Headed for Two-Month Deal

U.S. negotiations for July ethylene contracts remained unsettled in mid-August, pushing settlement toward a possible two-month deal with August, market sources say. Ethylene last settled in June at 39.5 cts/lb, down 5.25 cts/lb from May. Striking a balance: Lower July spot prices and decreased feedstock values have extended contract negotiations. Lower ethylene spot prices in July, combined with decreased feedstock values, are expected to drive the July ethylene settlement lower, market sources...

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