03 May 2011 19:55 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins rose by 0.4% in the last week of April following an increase in ethylene spot prices, the ICIS margin report showed on Tuesday.
Spot ethylene for April traded in a range of 64.50 cents/lb ($1,422/tonne, €953/tonne) and 65.75 cents/lb in the week ended 29 April, up from 60.00-65.50 cents/lb a week earlier, on constrained supply and higher feedstock prices.
Ethylene for May delivery was transacted at 63.75-65.50 cents/lb, up from 62.00-65.25 cents/lb in the previous week.
The increase in spot prices last week put margins at 30.45 cents/lb, up from 30.32 cents/lb a week earlier, using ethane as a feedstock.
Spot ethylene remained on an uptrend this week, as the monomer traded at 66.50 and 66.75 cents/lb for May delivery on Tuesday.
Meanwhile, ethane was assessed at 87.00-88.50 cents/gal, up from 86.00 cents/gal on Friday.
($1 = €0.67)
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