04 April 2012 23:18 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene contracts for March were settling at 55.75 cents/lb ($1,229/tonne, €934/tonne) on Wednesday, rising by 1.75 cents/lb from February as a result of higher spot prices last month.
A full-market settlement was yet to be reached, sources said.
US ethylene contracts usually settle at the beginning of the month for the previous month.
The 3.2% increase in March reverses the drop for February, when contracts fell by 1.75 cents/lb to 54.00 cents/lb, pressured by lower production costs that month.
($1 = €0.76)
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