20 August 2012 17:11 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins surged by 14% in the third week of August, tracking rising spot prices, the ICIS margins report showed on Monday.
Ethylene margins moved to 41.47 cents/lb ($914/tonne, €740/tonne) using ethane as a feedstock for the week ended 17 August, up from 36.45 cents/lb for the previous week.
Most of the increase in margins was attributed to spot prices gaining 2.25-5.00 cents/lb week on week because of a surge in demand from the polyvinyl chloride (PVC) market.
US ethylene spot prices ended the week in the mid-50s cents/lb, up from prices in the low-50s cents/lb for the week ended 10 August.
Feedstock ethane prices also decreased by 7.6%, to 15.53 cents/lb, adding to the spike in ethylene margins.($1 = €0.81)
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