06 December 2012 18:15 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene spot prices rose on Thursday amid talk of production problems in Louisiana.
December ethylene traded twice at 52.375 cents/lb ($1,155/tonne, €878/tonne), up by 3% from deals done at 50.750 cents/lb on Tuesday.
The increase came as talk emerged that Shell was having an outage at its Norco complex in Louisiana.
The company has two crackers at the site with a combined 1.42m tonnes/year of ethylene capacity.
Shell was having problems shipping ethylene out of the plant, a market source said.
The company late on Wednesday reported an ethylene release from a pipeline in Louisiana, citing a gasket failure in a filing with the National Response Center (NRC).
A Shell spokesperson did not respond to a request seeking for an update on the leak.
($1 = €0.76)
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