Initial June US ethylene contract settlements Wednesday were reached at 30.5 cents/lb ($672/mt), down 2.75 cents/lb from May, market sources said.
While some participants have concluded negotiations at that level, multiple sources said settlements were not yet marketwide.
If fully accepted, the 2.75 cents/lb decrease would be within market expectations in recent weeks that suggested a decrease of 2-4 cents/lb appeared likely.
Spot front-month ethylene assessments averaged 23.807 cents/lb in June, down 5.307 cents from May, according to S&P Global Platts data.
In feedstocks, purity ethane front-month assessments averaged 24.369 cents/gal in June, down 1.091 cents from May. Propane fell 4.818 cents to 59.068 cents/gal.
Spot US ethylene was last assessed Friday at 20.75-21.25 cents/lb FD USG for the prompt month, and at 21.25-21.75 cents/lb FD USG for the forward month.
