10 September 2012 22:58 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins rose by 1.2% in the first week of September, extending their uptrend from August as spot prices continued to firm, the ICIS margin report showed on Monday.
Ethylene margins were assessed at 50.16 cents/lb ($1,106/tonne, €863/tonne) last week, using ethane as a feedstock, up from 49.57 cents/lb during the week ended on 31 August.
The increase followed a 2.3% gain in the price of spot ethylene, which last week traded on average at 60.625 cents/lb for September delivery, up from 59.250 cents/lb a week earlier.
September ethylene was bid at 58.000 cents/lb on Monday against a 61.625 cents/lb offer.
No deals were heard.
($1 = €0.78)
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