08 February 2013 20:49 [Source: ICIS news]
NEW YORK (ICIS)--US ethylene oxide (EO) contract values were assessed up on Friday by 2.8 cents/lb ($62/tonne, €47/tonne) for January, based on formula-related pricing that is contingent upon the monthly ethylene contract.
January EO contract prices are at 67.40-76.90 cents/lb FOB (free on board), as assessed by ICIS.
The majority of EO contracts are formula-based, and price movement comprises 80% of the change in the monthly ethylene price settlement and an additional conversion fee, or adder.
US ethylene contracts for January settled 3.50 cents/lb higher than December values on the back of higher spot prices in the past few weeks.
At least two EO plants went down in January for maintenance, contributing to market tightness. Huntsman’s 460,000-tonne/year Port Neches, Texas, plant turnaround was confirmed. LyondellBasell’s 360,000-tonne/year Bayport, Texas, plant turnaround is unconfirmed.
EO producers in the US include BASF, Dow Chemical, Eastman, Formosa Plastics, Huntsman, Indorama Ventures, LyondellBasell and Shell Chemical.
($1 = €0.75)
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