US spot olefins active Thursday after slow week

20 December 2007 21:48  [Source: ICIS news]

HOUSTON (ICIS news)--US spot olefins traded several times on Thursday following a slowdown that prevailed for the most of the week.

US ethylene traded twice on Thursday at 50.50 cents/lb ($1,113/tonne) for December, and twice at 50.25 cents/lb for January, market sources said.

A deal for January was also heard at 50.375 cents/lb, while a December-January strip was inked at 50.25 cents/lb, sources said.

Ethylene had been last heard traded on Monday at 50.50 cents/lb for January delivery.

Trading in propylene was not as active, but three deals were confirmed by a market participant.

Polymer-grade propylene (PGP) for December traded at 59.875 cents/lb on Thursday, down from 60 cents/lb on Wednesday. A refinery-grade propylene (RGP) deal was also heard done on Wednesday at 55.75 cents/lb.

RGP had been last heard traded in the week ended 14 December at 56.40 and 56.75 cents/lb. A PGP deal was also done last week at 60 cents/lb.

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

Dow Chemical, Georgia Gulf, Occidental and Total are among the buyers.

By: William Lemos
+1 713 525 2653

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