08 January 2013 21:40 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene production in November totalled 4.454bn lb (2.02m tonnes), rising by 1.7% from 4.378bn lb produced in the same month in 2011, consulting firm Jacobs Consultancy said on Tuesday.
Ethylene production in November by volume fell by 0.1% from October, but rose by 3.2% from the previous month when output is measured on a daily rate, the group said in its monthly Hodson report.
The increase from October was in line with higher operating rates in November, as only three crackers were involved in relatively brief unplanned outages, the report said.
US crackers operated at 93.7% of capacity in November, rising from 90.8% in October and 92.2% in November 2011, the report said.
US ethylene contracts dropped by 1.7% for December, as lower production costs last month outweighed an increase in spot prices.
US ethylene contracts normally settle at the beginning of the month for the previous calendar month.
The 0.75 cent/lb ($17/tonne, €13/tonne) reduction, which is the third drop for the monthly contract in as many months, puts December ethylene at 44.50 cents/lb.
The figure compares with a settlement of 54.75 cents/lb one year earlier.
($1 = €0.76)
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