06 June 2012 20:07 [Source: ICIS news]
HOUSTON (ICIS)--US polyethylene (PE) margins slipped by 7.6% last week, as lower polymer prices and weaker co-product credits outweighed a drop in ethane prices, the ICIS margin report showed on Wednesday.
Integrated domestic PE margins were assessed at 56.77 cents/lb ($1,252/tonne, €1,002/tonne) for low density polyethylene (LDPE) and 45.23 cents/lb for high density polyethylene (HDPE) blow moulding in the week that ended on 1 June. That represents a 4.71 cent/lb decline from a week earlier, using ethane as a feedstock.
The drop came despite a 13.6% decrease in ethane feedstock costs and was based on a 7 cent/lb drop in domestic PE prices, as well as a 4.2% drop in co-product credits, according to the report.
Integrated spot export PE margins fell by 2.8 cents/lb, based on a 5 cent/lb drop in export PE prices, the report states.
($1 = €0.80)
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