29 October 2012 15:13 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins rebounded from a steep fall the previous week to gain 7.7% for the fourth week in October, the ICIS margin report showed on Monday.
Most of the gain in margins was attributed to higher spot prices, which gained 2.000-4.625 cents/lb during the week on news of a cracker outage in Texas.
Also, another cracker restart was delayed, further tightening supply.
Feedstock ethane costs also fell by 0.8%, to 14.13 cents/lb from 14.24 cents/lb, during the week.
Ethane cracker co-product credit values fell during the week to 3.99 cents/lb from 4.19 cents/lb, a 4.8% drop.
Trading of October ethylene was thin on Monday, with most of the market moving toward November material, with a deal done at 56.25 cents/lb.
($1 = €0.77)
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