US spot ethylene plummets 10% amid cracker restart talks

10 April 2012 23:08  [Source: ICIS news]

Ethylene prices plummetHOUSTON (ICIS)--US ethylene prices plummeted by 10% on Tuesday, pressured by the restart of one and possibly two US crackers, market sources said.

Ethylene for April traded as low as 68 cents/lb ($1,499/tonne, €1,139/tonne) for delivery on the Williams system, down from a deal done at a record 75.125 cents/lb last week.

Market sources said the slump came as Williams restarted its Geismar cracker in Louisiana over the weekend, following an unplanned outage at the end of March.

A Williams spokesperson did not immediately respond to a request for confirmation.

Talk was also heard that ExxonMobil was restarting its Baytown 1 cracker in Texas.

The 1m tonne/year cracker has been off line since 1 February for a two-month turnaround.

An ExxonMobil spokesperson said the unit remained in maintenance activity on Tuesday.

The spokesperson declined to comment on a timeframe for the restart.

($1 = €0.76)

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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index