13 June 2011 18:30 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene spot margins remained on an uptrend last week, lifted by higher spot prices and mostly steady feedstock costs, the ICIS margin report showed on Monday.
Using ethane as a feedstock, margins were at 35.45 cents/lb ($782/tonne, €547/tonne) in the week ended 10 June, up from 34.72 cents/lb a week earlier.
The 2% increased followed higher spot prices last week, as ethylene for June traded at 65.00-67.50 cents/lb, rising from deals done at 64.500-65.125 cents/lb in the week ended 3 June.
Market sources cited an outage at the Williams cracker in Geismar, Louisiana, early last week, as one of the reasons for the increase in spot prices.
The 612,000 tonne/year unit went down following a power outage on 4 June, the company said.
Williams restarted the cracker on 9 June, a spokesperson said, adding that the unit was expected to be running at full rates within one week.
Ethylene bids and offers for June were wide apart on Monday at 65-69 cents/lb.
Meanwhile, ethane prices were slightly lower at 76.00-76.75 cents/gal, pressured by a new drop in crude oil prices.
Mont Belvieu ethane ended Friday at 77 cents/gal.
($1 = €0.70)
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