US ethylene contracts for November have been seen settling 2 cents lower than October, cutting the net transaction price to 45.25 cents/lb, market sources said Tuesday.
The decrease is the second in the last five months, bringing the total contract price increase to 6.25 cents since the June low of 39 cents/lb, according to Platts data.
The decrease will reduce the posted price to 49.75 cents/lb according to Platts data.
Spot prices have mostly declined over the past month, starting November at 54.5 cents/lb and ending the month assessed at 50.5 cents/lb.
November spot ethylene assessments averaged 52.78 cents/lb, down 2.85 cents/lb from October spot monthly average of 55.63 cents/lb, according to Platts.
Feedstock costs on slipped to a 10-year low with US Gulf Coast purity ethane last assessed Monday at 26 cents/gal. The November USGC purity ethane assessment was averaging 29.08 cents/gal, down 3.17 cents from October.
US ethylene contract prices are settled in the beginning of the month for the previous month.
