US spot ethylene gained 1.50 cent/lb week on week, assessed Friday on either side of 62.625 cents/lb on a 3- to 30-day basis. News of an unplanned shudtown by a US Gulf Coast region cracker and upcoming turnarounds in September and October seemed key in supporting stronger ethylene values despite losses in crude and feedstock ethane prices. Huntsman Chemical suffered an unplanned outage Wednesday at its Port Neches, Texas, ethylene plant. A source with knowledged of company operations said the 181,000 mt/year-capacity cracker was in the process of restarting late Friday. Ethylene opened the week stable, assessed Monday on either side of 61.125 cents/lb, flat to Friday. August ethylene was heard bid as high as 59.75 cents/lb against offers at 62.50 cents/lb, with no deals reported by market participants. September was heard offered higher at 62.75 cents/lb.
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