In October, the spot price of ethylene decreased or its contract price dropped

It is understood that the drop in spot price of ethylene in the United States in the first half of October 2012 may lead to a lower ethylene contract price in October.

According to reports, ethylene prices in the United States dropped by an average of 4.2% in the first half of October, which may lead to a drop in contract prices this month, as indicated by the ICIS assessment. The average spot price of ethylene for the first two weeks of October was 56.625 cents/pound (about $1248/ton), while the average price in September was 59.130 cents/pound.

The market predicts that if it continues to fall, it may cause the October contract to fall more than 1 cent per pound, so far the production cost has remained stable. Ethylene contract settlement price for September was 48.25 cents/lb, up 2.25 cents/lb from August.