Commodity Market Report
Olefins - Ethylene Americas Monthly Market Overview April 2019
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Report summary
April US ethylene spot prices have averaged near 13.8 c/lb. The US ethylene contract for March settled down 1.25 c/lb from February. Margins have slightly increased as ethane variable cash costs have fallen 2 c/lb over last month. Our ethylene market outlook for 2019 remains long as startups for both LACC and Shintech crackers are looming and will both add additional spot volume into an already long market. Economic run cuts varying in severity are expected to be the balancing mechanism and will occur throughout the remainder of the year. The next derivative units are expected to come online in Q3, which would most likely put them ahead of the large crackers coming later this year.
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