The full effects and damage done by Hurricane Harvey are still being fully gauged; however, it is certain that several chemical plants located in Texas have suffered great loss, which in turn holds negative effects on the economy as well. Ethylene is considered to be one of the key components in the chemical communities along the Gulf that will have a ripple effect in the U.S. throughout the industry with the damage that was done. According to PetroChemWire, due to the floods from Hurricane Harvey, the state was forced to shut down almost all of its ethylene plants which make up 61% of U.S. ethylene capacity. Inevitably prices for ethylene-derived products are showing the signs of the shortage in terms of global price increases.
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