10 January 2011 14:52 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins rose by 5.4% in the first the week of 2011 after a drop in feedstock prices outweighed a small increase in ethylene spot prices, the ICIS margin report showed on Monday.
Using ethane as a feedstock, ethylene margins were at 17.82 cents/lb ($393/tonne, €307/tonne), up from 16.91 cents/lb in the week ended 31 December.
Mont Belvieu ethane ended Friday at 61.00 cents/gal, dropping from 65.00 cents/gal in late December, as a result of pressure from weaker demand.
Meanwhile, spot ethylene for January traded at 42.00-44.00 cents/lb, rising from 41.75-42.25 cents/lb the previous week.
The increase was caused by a cracker outage in Louisiana on 3 January, but by late in the week the uptrend had weakened and the monomer was giving back its gains.
Ethylene for January traded on Friday at 42.25 cents/lb.
($1 = €0.78)
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