US ethylene contract prices for June were starting to settle Tuesday at a 0.75 cent/lb increase, sources said.
The net transaction price for June was heard settling at 47.75 cents/lb, while the posted price for June was heard settling at 52.25 cents/lb, the sources added.
US ethylene contract prices are typically settled retroactively on a monthly basis and take into consideration spot ethylene and feedstock prices. US spot ethylene assessments averaged 55.64 cents/lb in June, up 0.8 cent from May's average of 54.84 cents/lb, according to Platts data.
In feedstocks, non-LST Mont Belvieu propane prices averaged $1.0464 cents/gal in June, up a 0.5 cent from May's $1.0414/gal, while US purity ethane averaged 28.99 cents/gal, an increase of 0.35 cent.
In the spot market, ethylene was last heard bid Tuesday at 54 cents/lb Mont Belvieu-Williams pipeline basis and offered at 55.50 cents/lb Mont Belvieu-Williams pipeline basis for July delivery. August was heard bid at 53 cents/lb Mont Belvieu-Williams pipeline basis and traded on Monday at 54.25 cents/lb Mont Belvieu-Williams pipeline basis.
