06 July 2010 22:13 [Source: ICIS news]
HOUSTON (ICIS news)--US ethylene spot margins rose by 4.8% in the week ended 2 July on lower feedstock costs and slightly firmer spot prices, the ICIS pricing ethylene margin report showed on Tuesday.
Margins rose as spot prices for July averaged 33.00 cents/lb, up from 32.63 cents/lb a week earlier, according to ICIS.
Meanwhile, feedstock ethane prices remained on a downtrend, providing additional gains for ethylene producers.
Ethane ended Friday at 45 cents/gal, down from 49 cents/gal a week earlier.
The decline was due to continued ample supply and weaker demand, a market participant said.
Ethane values were steady on Tuesday at 45 cents/gal amid thin trade.
The market was also slow on the ethylene side. The monomer was bid at 29.50 cents/lb with no offers.
Ethylene was last heard traded at 30.00 cents/lb on Friday.
($1 = €0.80)
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