28 November 2011 21:48 [Source: ICIS news]
Ethylene margins were at 18.13 cents/lb in the week that ended on 25 November, using ethane as a feedstock, up from 14.30 cents/lb a week earlier.
The increase followed an 8% drop in the price of ethane, the main US feedstock for ethylene production.
Mont Belvieu ethane prices softened to 78 cents/gal last week on weaker demand, which was potentially exacerbated by a brief outage at two crackers in Texas.
Meanwhile, ethylene spot prices remained mostly flat on thin trade during the shortened US Thanksgiving holiday week.
Ethylene for November traded early last week at 51.75 cents/lb, unchanged from a previous deal on 17 November.
November ethylene traded lower on Monday at 51.50 cents/lb, whereas ethane prices climbed to 81.50–82.50 cents/gal on renewed demand following the US holiday.
($1 = €0.75)
For more on ethylene visit ICIS chemical intelligence
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections