NewsFlashAug US ethylene settles up 1 cent/lb

31 August 2007 18:58  [Source: ICIS news]

HOUSTON (ICIS news)--US August ethylene contracts settled up by 1 cent/lb ($22/tonne) at 49.5 cents/lb, in line with the settlements of initial contracts heard last week, market sources said on Friday.

Prices moved up due to strong demand for polyethylene (PE), tight inventories and growing feedstock prices, a producer said.

Producers had initially nominated increases of 3.5-5.0 cents/lb.

Chevron Phillips, Equistar, ExxonMobil, INEOS and Shell are among the major producers of ethylene in the US.

Dow Chemical, Georgia Gulf, Occidental Chemical and Total are among the buyers.
By: William Lemos
+1 713 525 2653

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