25 March 2011 20:50 [Source: ICIS news]
HOUSTON (ICIS)--Shell on Friday confirmed it had declared force majeure (FM) on US ethylene as reported by ICIS on Thursday.
The company did not provide details, but market participants said Shell would restrict US deliveries of the monomer to 90% in April.
According to sources, Shell is still having difficulties to access storage wells in Mont Belvieu, Texas, following the fire at the Enterprise Products facility in early February.
Ethylene for March traded on Friday at 60.00 cents/lb ($1,323/tonne, €939/tonne), up from 54.75-58.00 cents/lb in the previous week.
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