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Ethylene contracts expected to decline further
07
May '10
According to reports, the downward pressure on spot prices of ethylene caused the settlement price of April contract in the United States to fall down by 3 cents per pound (US $66 per ton or €50 per ton).

According to ICIS price, the settlement price of April ethylene contract in the United States was 52.50 cents per lb and the price declined for the first time since July 2009.

Spot ethylene price in the United Stated was 42.00-47.25 cents / lb at the end of April, down 36.5 percent from the average price of 67.50-73.00 cents / lb in early April.

Market participants say that May contract price of ethylene will continue to decline, because the spot market continues to face pressure. Spot price of May delivery ethylene was 42.00 and 43.00 cents / pound on Tuesday.

June contracts were traded at 40.00 cents / lb. Market source say that May contract is expected to decline by another 6 or 7 cents / pound.

Fibre2fashion News Desk

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