EDC: US ethylene dichloride prices remained steady as sluggish activity trading was reported. Price assessment was at $440/mt FOB USG. Recent price hikes on feedstock ethylene due to production issues was expected to have a little impact on EDC prices based on expectations of ample supply in the second half of the year. Market sources also said that despite the price increases in the PVC export segment this week, lower chlorine prices and the 25% expansion capacity that Formosa Plastics USA was scheduled to start this month at its EDC plant in Point Comfort, Texas, would keep US EDC prices in the mid- 400’s/mt levels. In feedstock news, the US spot ethylene price was assessed this week on either side of 63.875 cents/lb in a backwardated market structure. In contract, July ethylene price settled flat at 56.75 cents/lb, in line with market expectations.
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