03 November 2010 21:54 [Source: ICIS news]
Ethylene for November traded as high as 52.00 cents/lb ($1,146/tonne, €814/tonne) earlier in the day, rising from a deal done at 41.00 cents/lb on Monday.
The spike followed news that INEOS had experienced a major outage at its Chocolate Bayou complex in
The company has two steam crackers at the site with combined ethylene capacity of 1.8m tonnes/year.
Market participants said both units were down and a restart could take as long as two weeks.
INEOS does not comment on its operations, according to a spokesperson.
Meanwhile, ethane prices were heard as high as 71.25 cents/gal on Wednesday, rising by 8% from 66.00 cents/gal on Friday.
The uptrend stems from continued strong demand for the product, which accounts for around 60% of the
($1 = €0.71)
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