15 October 2012 16:51 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins for the second week of October fell by 4.4% on a drop in spot ethylene prices, the ICIS margins report showed on Monday.
The fall was mostly attributed to spot ethylene prices dropping, outweighing lower feedstock costs.
US ethylene spot prices fell by 1-4 cents/lb during the week as sources said two crackers were restarted, boosting supply.
Also, ethane cracker co-product values fell to 4.28 cents/lb from 4.39 cents/lb, further eroding ethylene margins.
Feedstock ethane costs fell by 3.6%, to 13.61 cents/lb from 14.12 cents/lb.
October spot ethylene started the week with bid/offer levels at 52.5-53.5 cents/lb, continuing their downtrend from a deal heard on Friday at 53.5 cents/lb.
($1 = €0.77)
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