London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

Initial US ethylene settlements for August down by 1.25 cents/lb

September 02/2011

(ICIS) -- Initial US ethylene settlements for August were agreed at 55.50 cents/lb (USD 1,224/tonne, EUR 857/tonne), down by 1.25 cents/lb from July, market sources said on Thursday.
The 2.2% reduction resulted from a drop in production costs last month, which offset an increase in average ethylene spot prices.

July ethylene settled at 56.75 cents/lb, as assessed by ICIS.The initial drop for August surprised some market participants, who had expected a smaller decline for the month. A larger drop was needed to keep US ethylene derivatives competitive in the export market, a source said.

US ethylene contracts usually settle at the beginning of the month for the previous month.
Spot ethylene for September traded on Thursday at 63.50 cents/lb, flat with a deal on Wednesday.
Major US ethylene producers include Chevron Phillips Chemical, ExxonMobil, INEOS, LyondellBasell and Shell Chemicals.

Tags:ethylene, Exxon Mobil, LyondellBasell.
Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe