US spot ethylene rose 1.125 cents/lb week on week, assessedFriday on either side of 56.50 cents/lb. The higher valueswere supported at least in part by stronger ethane prices,which hovered above the 79-cent/gallon for much of the week. Ethane was assessed Friday on either side of 81.50cents/gallon, up 4 cents on the week. The ethylene marketopened the shortened week with news of a lower contractsettlement for June. The CP settled down 1.75 cents to 56.75cents/lb, marking the first time since January that it saw adecrease. The new price represented a roughly 3% drop fromMay’s contract. The drop was in line with marketexpectations for a 1- to 2-cent drop on the back of of fallingspot prices and continued weak demand from downstreammarkets, particularly polyethylene.
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