US spot ethylene falls to 15-month low at 45.75 cents/lb

31 May 2012 17:33  [Source: ICIS news]

Ethylene prices plummetHOUSTON (ICIS)--US spot ethylene for June traded at 45.75 cents/lb ($1,009/tonne, €817/tonne) on Thursday, its lowest level since February 2011, the ICIS database showed.

The transaction puts the drop in the last two days at 11% based on a deal on Tuesday at 51.50 cents/lb.

The downtrend stems from weak demand and lower crude oil and feedstock ethane prices.

Mont Belvieu ethane traded at 32.25 cents/gal on Thursday, dropping by nearly 15% from 38 cents/lb on Tuesday.

US ethylene spot prices have plummeted by around 40% in the past seven weeks.

The monomer traded at a record 76.125 cents/lb in mid-April on tight supply resulting from a busy cracker turnaround season.

($1 = €0.81)

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By: William Lemos
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