US August ethylene contract settles higher

: Petrochemicals
24/09/04

The US August ethylene contract price settled at 33¢/lb, the highest recorded settlement since November 2022.

The contract price rose by 0.75¢/lb from the prior month, or 2.33pc, which marks a fifth consecutive monthly increase.

An uptick in the contract price was supported by higher US spot ethylene prices. Maintenance at Enterprise Products Partners' (EPC) cavern in Mont Belvieu, Texas, coupled with lower inventories in the second quarter, placed upward pressure on spot prices this summer.

US spot EPC ethylene averaged higher month-over-month. The August spot average for front-month ethylene increased to 30¢/lb from 26.59¢/lb in July. On 3 September, Argus assessed US spot EPC ethylene at 30.31¢/lb.

The US ethylene contract price is a 50/50 formula accounting for ethylene spot prices and ethane feedstock costs. The average of spot ethane prices was lower in August at 13.95¢/USG, down from 15.43¢/USG in July. Prompt month EPC ethane traded higher in September alongside natural gas.

By Joshua Himelfarb

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Argent to start production at new glycerine refinery

24/10/03

Argent to start production at new glycerine refinery

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California textile recovery bill signed into law

24/10/02

California textile recovery bill signed into law

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Unilateral action can tackle plastic waste: OECD

24/10/02

Unilateral action can tackle plastic waste: OECD

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California enacts carpet recovery law

24/10/01

California enacts carpet recovery law

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