12 November 2012 16:42 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins gained 1.2% in the first week of November, mostly on lower feedstock costs, the ICIS margin report showed on Monday.
The increase was largely fuelled by cheaper ethane costs, which fell to 13.11 cents/lb for the week ended 9 November from 13.81 cents/lb the previous week.
The fall in ethane prices was mostly attributed to longer supply.
The gains in ethylene margins were mitigated by weaker spot prices and lower cracker co-product values.
US spot ethylene prices tightened during the week, gaining 1.000 cents/lb on the low end and falling by 1.250 cents/lb on the high end, creating a net loss in average price.
Cracker co-product credits fell to 3.98 cents/lb from 4.04 cents/lb.
US spot ethylene for November was offered at 56 cents/lb on Monday, with no bids heard.
($1 = €0.79)
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