US July ethylene contracts initially settle higher by 3.7%

05 August 2014 17:52  [Source: ICIS news]

US July ethylene contracts initially settle higher by 3.7%HOUSTON (ICIS)--US ethylene contracts for July have reached an initial settlement at a 3.7% increase from June, sources confirmed on Tuesday.

The settlement puts July contracts at 49.5 cents/lb ($1,091/tonne), a 1.75 cent/lb increase from June pricing.

Market sources had said that average ethylene spot prices for July had climbed by about 5 cents/lb, mostly a result of unexpected tight supply from several cracker shutdowns and delayed cracker restarts.

The increase in spot prices was expected to outweigh the drop in ethylene cash costs.

Major US ethylene producers include Chevron Phillips, Enterprise, INEOS, LyondellBasell and Shell Chemical.

Major buyers include Axiall, Occidental Chemical  and Total.


By: Tracy Dang
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly