US Q2 ethylene stocks down 32% - NPRA
10 August 2007 17:57 [Source: ICIS news]
HOUSTON (ICIS news)--Second-quarter US ethylene inventories fell 32% from the first quarter amid cracker turnarounds, production issues and strong global polyethylene (PE) demand, an industry association said on Friday.
US ethylene inventories fell to 763m lb from 1.1bn lb in the first quarter, the National Petrochemical and Refiners Association (NPRA) said.
Inventories fell amid strong global PE demand and a series of cracker turnarounds and production issues spanning the first and second quarters, according to sources.
The second-quarter inventories were the lowest since the second quarter of 2004, when 865m lb was reported.
Production rose by 3.6% to 14bn lb in the second quarter.
The sharp fall in stocks coincided with a 17% rise in spot ethylene prices to about 41.5 cents/lb in the second quarter, according to global chemical market intelligence service ICIS pricing.
Contract prices rose by 2.5 cents to 46 cents/lb from April to June.
Ethylene production and inventory data was supplied by the following companies: BASF, Chevron Phillips, Dow Chemical, DuPont, Eastman, Equistar,
By: Mark Quiner
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