25 October 2012 21:12 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene spot prices have jumped by 8% so far this week amid continued talk of a cracker outage in Texas.
Ethylene for October traded at 57.625 cents/lb ($1,270/tonne, €978/tonne) on Thursday, up from deals done at 52.25-54.25 cents/lb last week.
The surge came amid news that ExxonMobil is having at an outage at one of its Baytown crackers in Texas.
The company has two crackers at the site with a combined 2.2m tonnes/year of ethylene capacity.
The cracker affected has 1m tonnes/year of capacity and uses ethane as a feedstock, a source said.
The unit is expected to be restarted by 2 November, another source said.
An ExxonMobil spokesperson did not respond to a request for comment.
($1 = €0.77)
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