25 October 2010 16:57 [Source: ICIS news]
Spot margins for ethane-sourced ethylene were assessed at 12.99 cents/lb ($286/tonne, €204/tonne) last week, up from 12.88 cents/lb in the week ended 15 October, according to the report.
Ethylene margins rose as ethylene spot prices jumped by 3.4% on average, supported by rising ethane values and a lingering cracker outage in Texas.
October ethylene traded last week at 38.00-38.50 cents/lb, compared with deals done at 35.00-39.00 cents/lb in the week ended 15 October.
Ethylene spot prices were steady on Monday compared with Friday. The monomer was bid at 39.75 cents/lb for October, while an offer was heard at 41.00 cents/lb.
Meanwhile, ethane was heard traded at 61.75-62.25 cents/gal, climbing from a range of 61.00-62.00 cents/gal on Friday on continued strong demand, a source said.
Ethane is a key component in the cost structure of US ethylene since the product accounts for around 60% of the feedstocks used to make the monomer.For more on ethylene visit ICIS chemical intelligence
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