28 March 2010 18:16 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--US polyethylene exports will likely drop in the coming months, but the US could regain an edge in the export market if ethylene prices return to levels from early 2010, a plastics trader said on Sunday.
Talk that US PE exports are poised for a major drop in the second quarter is widespread, as a recent surge in monomer prices have made US resin less competitive in Asia and ?xml:namespace>
US ethylene prices skyrocketed in the first quarter of 2010, lifted by tight supply caused mainly by a spree of unplanned shutdowns after the turn of the year.
US spot ethylene for March/April was assessed at 61.00-63.00 cents/lb ($1,345-1,389/tonne or €1,009-1,042/tonne) on Friday, down from 70.00 cents/lb in early March, but up from 42.50-43.00 cents/lb in the first week of January, according to global chemical market intelligence service ICIS pricing.
Ethylene would have to drop back to the high 40.00s cents/lb for PE to be competitive again in the export market, the trader said on the sidelines of the National Petrochemical & Refiners Association (NPRA) meeting in
According to the source, the
Major US PE producers include Dow Chemical,
The NPRA's International Petrochemical Conference runs Sunday through Tuesday.
($1 = €0.75)
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