27 August 2012 21:59 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene bid and offers were wide apart on Monday as Tropical Storm Isaac continued to move across the US Gulf, potentially targeting ethylene plants in Louisiana.
Ethylene for August was heard bid at 57.50 cents/lb ($1,268/tonne, €1,014/tonne) against an offer at 65.00 cent/lb.
No deals were heard. The monomer traded at 55.00-57.75 cents/lb last week.
Isaac will likely strengthen into a hurricane before it hits the US coast by Wednesday, according to the latest forecasts.
The projected path has the system making landfall in Louisiana, which is home to 11 ethylene plants.
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($1 = €0.80)
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