US ethylene margins shed 3.7% on lower spot prices

17 September 2012 22:14  [Source: ICIS news]

HOUSTON (ICIS)--US ethylene margins fell by 3.7% in the second week of September as a result of a drop in ethylene spot prices, the ICIS margin report showed on Monday.

Ethylene margins were assessed at 48.28 cents/lb ($1,064/tonne, €809/tonne) last week, using ethane as a feedstock, down from 50.16 cents/lb during the week that ended on 7 September.

The drop followed a 3.4% reduction in the price of spot ethylene, which last week traded at 58.562 cents/lb on average for September delivery, down from 60.625 cents/lb a week earlier.

Ethylene prices fell as the front month gave back gains after rallying because of lost production during Hurricane Isaac.

The monomer recovered some ground on Monday as September ethylene traded at 58.25 cents/lb, up from 57.50 cents/lb on Friday.

Meanwhile, ethane prices drifted to 30.50 cents/gal earlier in the day, dropping by nearly 5% from 32 cents/gal at close on Friday.

($1 = €0.76)

For more on ethylene visit ICIS chemical intelligence
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By: William Lemos
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