US spot ethylene posts sharp decrease
by ChemOrbis Editorial Team - content@chemorbis.com
According to market sources, US spot ethylene prices dropped considerably as of the middle of this week. Losing more than 3.5 cents/lb ($77/ton) on the day, spot ethylene prices in the country were reported at 22.5-23 cents/lb ($496-507/ton) FD USG as of Wednesday.
The decline was attributed to the possibility of LyondellBasell’s resuming its production at Corpus Christi, Texas following a large-scale maintenance, sources said. LyondellBasell had shut its cracker for capacity expansion at Corpus Christi in mid-November and postponed its restart to December 17.
According to ChemOrbis Production News, OxyChem also expects to finish the start-up procedure of its joint-venture ethane cracker with Mexichem in Ingleside, Texas by mid-January and expects ethylene production in Q1 2017.
Formosa Plastics is also set to start up its new cracker at Point Comfort, TX in Q1, 2017.
The decline was attributed to the possibility of LyondellBasell’s resuming its production at Corpus Christi, Texas following a large-scale maintenance, sources said. LyondellBasell had shut its cracker for capacity expansion at Corpus Christi in mid-November and postponed its restart to December 17.
According to ChemOrbis Production News, OxyChem also expects to finish the start-up procedure of its joint-venture ethane cracker with Mexichem in Ingleside, Texas by mid-January and expects ethylene production in Q1 2017.
Formosa Plastics is also set to start up its new cracker at Point Comfort, TX in Q1, 2017.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months
- Thai PP, PE markets subdued by slowing economy, competitive imports
- Vietnam’s PE market extends losses into June on frail demand
- Asian spot naphtha prices pull back from multi-month highs
- China gears up for new PP start-ups in H2 2019
