US spot ethylene dropped 0.75 cent on the week, assessed Friday at 35.5-36 cents/lb FD USG for June and 0.5 cent/lb lower at 35.75-36.25 cents/lb FD USG for July deliveries. Talks centered on two production issues taking place during the week, as well as the two-month settlement of April and May ethylene contracts. Dow Chemical shut its LHC#3 in Plaquemine, Louisiana, sources said Monday. The plant is to be restarted by mid-June, one source said, citing a company letter. After news of the outage spread, ethylene traded via the Choctaw pipeline in Louisiana at 55 cents/lb for June deliveries, an 18.75 cents/lb premium from the Texas deals Monday at 36.25 cents/lb MtB Wms.
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