Bids for June material were climbing, seen on the HoustonMercantile Exchange as high as 57 cents/lb Mont Belvieu-Williams basis, up from 53-cent/lb levels earlier in the day. Spot ethylene was last assessed Wednesday at 52.75-53.25 cents/lb FD USG.
The US spot ethylene market was at a standstill Thursday on news of an explosion and fire at Williams’ olefins complex in Louisiana that killed one person earlier in the day, market sources said.
“There are no pounds to buy,” a market source said. “I think we can expect a spike in the ethylene price.”
A downstream styrene producer said it was possible the spot ethylene prices could rise by 10-15 cents/lb over pre-incident prices.
via US ethylene trading at standstill after Williams Louisiana plant fire – Platts News Article & Story