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U.S. July ethylene contract prices rose and demand rebounded

 Last Update: 2022-08-24
 Source: Internet
 Author: User

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According to ICIS website news on August 5, as cracker problems curbed supply and demand continued to recover, ethylene contract settlement prices for most market participants in the United States in July rose 1.
0 cents / pound due to rising spot prices and cash costs

The contract price is the third straight hike after hitting a trough in April, when oil prices tumbled and demand was hit by the coronavirus

The July contract price rose to 25.
5 cents/lb from June's 24.
5 cents/lb ($562/t)

Ethylene contract prices hit their highest level since January, when they settled at 25.
75 cents/lb

Average spot prices rose by around 2.
5 cents/lb on higher cash costs and a recovery in demand

Ethylene was trading at 14.
75-16.
00 cents/lb in July in previous months, up from 11.
75-13.
50 cents/lb in June

Exports are one of the bright spots in the outlook for U.
S.
ethylene demand, thanks to the U.
S.
cost advantage and Asia's recovery from the coronavirus demand shock

Demand for polyethylene (PE), ethylene's largest derivative, has grown unexpectedly strongly amid the coronavirus crisis, largely due to its heavy use in non-durable consumer goods such as food packaging

Cracking issues affecting supply in July include BASF Total's Port Arthur, Texas, plant, INEOS' Chocolate Bay, Texas, plant, and Formosa Plastics' Concord, Texas, plant.
Ford's plant and Dow's plant in Freeport, Texas, among others
.

Contracts for by-products of propylene and benzene rose in July
.
Butadiene (BD) remains weak but is slowly improving
.

Ethylene is an important petrochemical feedstock used to make products such as polyethylene, ethylene glycol (EG) and polyvinyl chloride (PVC)
.

Major U.
S.
ethylene producers include Chevron Phillips Chemical Company, Dow, ExxonMobil, INEOS Olefins and Polymers, LyondellBasell and Shell Chemical
.

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