US January ethylene initially settles up 4.1% on feedstocks

07 February 2014 17:21  [Source: ICIS news]

HOUSTON (ICIS)--US January ethylene contracts reached an initial settlement up 4.1% on higher feedstock costs, sources said on Friday.

The 2.00 cent/lb ($44/tonne) increase puts January contracts at 50.25 cents/lb, up from the December settlement of 48.25 cents/lb.

The increase is largely in line with market expectations, which called for the rise as production costs surged on higher ethane and other natural gas liquids (NGLs) for January.

Ethylene spot prices also climbed slightly during the month as demand was said to be steady to slightly stronger.

By: John Dietrich

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