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Chemical stock prices plunged as unrest continued in Libya

February 23/2011

(ICIS) -- Chemical stock prices plunged on Tuesday, closing much lower for several North American companies as unrest continued in Libya.

Dow Chemical closed at $37.16/share, down 3.6%, and DuPont closed at $54.38/share, down 2.9%. LyondellBasell closed at $35.84/share, down 5.6% from Friday. US markets were closed on Monday for a holiday.

Spot ethylene offers were heard at 51.00 cents/lb, up from offers at 49.50 cents/lb. Refinery-grade propylene (RGP) was bid at 59.00 cents/lb with no offers. Last week, RGP traded at 62.00-65.00 cents/lb.

In Libya, leader Muammar Qaddafi vowed to continue fighting instead of stepping down, according to the Financial Times.

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