A final settlement for the June ethylene contract price was heard at a 0.25 cent/lb increase to 30.25 cents/lb ($666.89/mt), market sources said Tuesday.
The settlement fell within market expectations, which in recent weeks called for a stable-to-higher price compared with May's level following a hike in feedstock prices, although spot pricing has decreased in the interim.
Spot front-month ethylene assessments averaged 24.898 cents/lb in June, down 0.334 cent/lb from the May average. In feedstock activity, purity ethane front-month assessments averaged 22.75 cents/gal, up 3.19 cents/gal. Propane dipped 2.622 cents/lb to 50.057 cents/gal.
In the spot market Tuesday, ethylene was seen in a bid-offer range of 24-25.5 cents/lb for both July and August deliveries.
Spot US ethylene was assessed Friday at 24.75 cents/lb FD USG for July and August deliveries.
