11 April 2012 15:23 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins began April on a record high, sustained by a surge in ethylene spot prices and softer feedstock costs, the ICIS margin report showed on Wednesday.
Ethylene margins were assessed at an unprecedented 60.58 cents/lb ($1,336/tonne, €1,015/tonne), up from 54.80 cents/lb a week earlier, using ethane as a feedstock.
US ethylene margins rose last week as spot ethylene surged to 75.125 cents/lb, the highest spot transaction recorded on the ICIS database for delivery on the Williams pipeline system in the US Gulf coast.
Meanwhile, ethane prices fell by nearly 10% to 47 cents/gal, pressured by weaker demand.
US ethylene margins will likely narrow this week, as spot ethylene for April nosedived to 68 cents/lb on Tuesday amid talk of a restart at two US crackers.
($1 = €0.76)
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