US ethylene contracts for March settling up 1.75 cents/lb

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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By: William Lemos
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