US olefins prices drop on crude oil pressure

07 October 2008 23:51  [Source: ICIS news]

HOUSTON (ICIS news)--US olefins price ideas slipped on Tuesday, pressured by volatility in crude oil prices and an overall softening in petrochemical values.

No ethylene spot deals were heard, but the monomer was offered at 55 cents/lb ($1,213/tonne or €898/tonne) on the Equistar system and at 49 cents/lb for Williams delivery.

Ethylene was last heard traded on 3 October at 56.00 cents/lb on the Equistar system, while the last Williams deal was heard on 2 October at 51.75 cents/lb.

On the propylene side, refinery-grade propylene (RGP) was offered on Tuesday at 47 cents/lb with a bid at 40 cents/lb, according to market sources.

RGP was last heard traded on 3 October at 44 cents/lb for a rail-delivery deal, which usually trades at a discount to pipeline transactions.

The last RGP pipeline deal was heard on 2 October at 50.25 cents/lb.

($1 = €0.74)

For more on olefins visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: William Lemos
+1 713 525 2653

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