EDC: Export prices declined $10/mt week on week, assessed Thursday at $365-375/mt FOB USG, as trading levels were heard in the $360-380/mt FOB USG range. Spot offers were heard at $390/mt FOB USG, however one trading source said current buying interest from Asia would netback to levels below $360/mt FOB USG. The trading source estimated freight cost to Asia at $60/mt. Offers from producers were heard $20-30/mt lower from the $420-430/mt FOB USG heard in prior weeks, despite the strong ethylene pricing seen since the beginning of the month, however sources said that there is no motivation for producers to push prices another $20/mt lower to meet current buying interest from Asia. In ethylene, US ethylene contract prices for August were starting to settle Wednesday at a 1.75 cent/lb increase, sources said, pushing the net transaction price (NTP) for August to 51.25 cents/lb, sources said. If the settlement is accepted market-wide, it would bring contract prices to their highest point since the April 2012 level of 55.25 cents/lb, according to Platts data.
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