09 January 2012 22:58 [Source: ICIS news]
HOUSTON (ICIS)--US spot ethylene traded sharply higher on Monday, climbing by 4% from Friday on limited availability amid the start of a busy maintenance season in the US Gulf.
US ethylene for January traded at 59.875 cents/lb ($1,320/tonne, €1,043/tonne), up from a deal done at 57.500 cents/lb on Friday.
The increase on Monday followed a 6% gain in the previous week, when January ethylene traded at 56.750–57.500 cents/lb, rising from 53.875 cents/lb in the last week of December.
Market sources said ethylene spot availability in the US was limited, citing inventory building because of planned cracker turnarounds in the coming weeks.
($1 = €0.79)
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