09 July 2012 15:34 [Source: ICIS news]
Ethylene margins were assessed at 32.58 cents/lb ($718/tonne, €589/tonne), using ethane as a feedstock, down from 35.11 cents/lb in the week that ended on 29 June.
The drop followed a 3.8% average drop in the price of spot ethylene, which softened as two US crackers that had been off line for maintenance resumed production last week.
Ethylene for July delivery traded at 42.375-42.750 cents/lb in the week that ended on 6 July.
That compares with 42.000-46.500 cents/lb a week earlier.
Meanwhile, ethane prices averaged 30.90 cents/gal last week, rising by nearly 9% from 28.39 cents/gal in the previous week.
Ethylene for July was bid at 40 cents/lb on Monday with no offers.
($1 = €0.82)
Follow William on Twitter
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections