Ethylene for May delivery traded at US$0.535/lb. before settling at US$0.5425/lb., with nearly US$0.02/lb. discount expected by December and up to US$0.04/lb. by end-2015, according to Plastics Exchange
DETROIT , June 6, 2014 (Plastics News (CBNB Abstracts)) – As reported by The Plastics Exchange, crude oil contract prices for Jul rose $2.27/bbl to $101.58/bbl. Jun futures prices for natural gas fell by $0.118/mmBtu to $4.413/mmBtu. Spot prices settled at $0.2825/gal ($0.119/lb) for ethane and $1.00/gal ($0.284/lb) for propane, after reporting losses of $0.50/gal and $0.04/gal, respectively. Ethylene for May delivery traded at $0.535/lb before settling at $0.5425/lb, with nearly $0.02/lb discount expected by Dec 2014 and up to $0.04/lb by end-2015. Spot trading for most PE grades went stable for the week, at high volumes and with prices recovered. PGP for May delivery traded along $0.675/lb before heading to $0.6675/lb and recently at $0.67/lb. May contract prices settled at $0.705/lb, finally erasing a four-month Jan increase of $0.04/lb.