Americas: US February ethylene CP settles at 49 cents/lb, up 3.75 cents

Chemical News: Americas: US February ethylene CP settles at 49 cents/lb, up 3.75 cents

https://www.chemnet.com Mar 08,2011 Platts
US ethylene contracts for February settled up 3.75 cents at 49 cents/lb, two market sources said Friday.

The roughly 8% hike had been expected given stronger spot values since before midmonth, market participants said.

Ethylene had previously settled at 45.25 cents/lb for January, down 3.25 cents from December. In essence, producers reclaimed those 3.25 cents and tacked on .50 cents more to account for higher feedstock and spot prices seen for much of the month.

Spot ethylene opened February assessed at 46.875 cents/lb. But a fire at a key Enterprise Products Partners facility in Mont Belvieu, Texas, and resulting logistical problems for some producers combined with unexpected stoppages and stronger feedstock ethane values to lift ethylene above the 49-cent/lb mark beginning Feb 14 and for the remainder of the month.

US spot ethylene was last assessed Thursday at 53.200 cents/lb and was heard talked Friday morning at a range of 52.75-53.50 cents/lb Wms or Wms-Cleared.

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