13 August 2012 17:17 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins inched higher by 0.4% during the second week of August, as spot prices increased, the ICIS margin report showed on Monday.
Ethylene margins moved to 36.45 cents/lb ($803/tonne, €651/tonne) using ethane as a feedstock, up from 36.29 cents/lb for the week ended 3 August.
The biggest reason for the increase in margins was tightness in the market moving up spot prices by 1.12 cents/lb week on week.
US spot ethylene prices ended the week at 48.50-50.00 cents/lb FOB (free on board), up from 48.00-48.25 cents/lb the previous week.
Ethane co-product values also increased slightly, to 4.76 cents/lb for the week ended 10 August. Co-product values for the previous week were at 4.72 cents/lb, down by 0.8%.
This outweighed an increase in feedstock ethane costs, which moved higher by 6.2%, to 16.8 cents/lb from 15.81 cents/lb.
($1 = €0.81)
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