19 November 2012 20:03 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins fell by 4% in the second week of November under pressure from lower ethylene spot prices, the ICIS margin report showed on Monday.
Ethylene spot margins were assessed at 43.36 cents/lb ($956/tonne, €746/tonne) using ethane as a feedstock, down from 45.12 cents/lb a week earlier.
The reduction followed a drop in ethylene spot prices, which last week traded at 53.250 cents/lb for November delivery, down from 55.000 cents/lb in the previous week as a result of weaker demand.
US ethylene for November was offered at 52.00 cents/lb on Monday against a bid at 50.75 cents/lb.
Mont Belvieu ethane firmed up slightly from Friday to 29.50 cents/gal, trending upward along with other energy commodities.
Ethane accounts for around 60% of the feedstocks used to make ethylene in the US.
US ethylene spot margins have averaged 43.69 cents/lb so far in 2012, up by nearly 60% from an average 27.47 cents/lb in 2011.
($1 = €0.78)
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