US ethylene contract for February drops 3% to 54 cents/lb

02 March 2012 23:53  [Source: ICIS news]

US ethylene contract for February drops 3% to 54 cents/lbHOUSTON (ICIS)--US ethylene contracts for February settled at 54.00 cents/lb ($1,190/tonne, €893/tonne) on Friday, down by 1.75 cent/lb from January, pressured by lower production costs in recent weeks.

The 3% drop came as cash costs for ethylene in February fell by 9 cents/lb to 15.20 cents/lb, following a sharp decline in ethane prices.

The reduction outweighed a 6 cent/lb increase in ethylene spot prices, which averaged 65.44 cent/lb in January.

US ethylene contracts usually settle at the beginning of the month for the previous month.

Follow William on Twitter


By: William Lemos
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly