US March ethylene initially settles down 1.4% on weaker spot

HOUSTON (ICIS)–US March ethylene contracts reached an initial settlement down 1.4% on Wednesday, sources said, tracking weaker spot pricing.

Sources said an initial settlement for March contracts was done at 34.25 cents/lb ($755/tonne), down by 0.50 cents/lb.

The drop puts contracts at their lowest since August 2009, when they were at 32.5 cents/lb, and was largely in line with market expectations.