11 February 2013 18:19 [Source: ICIS news]
HOUSTON (ICIS)--US spot margins for ethylene fell by around 3.8% week on week, tracking a downturn in spot prices, the ICIS margin report showed on Monday.
Ethylene spot margins were assessed at 55.91 cents/lb ($1,233/tonne) for the week ended 8 February, compared with 58.10 cents/lb for the previous week, using ethane as a feedstock.
The decline in margins was mostly driven by US spot ethylene prices dropping 1.625-2.500 cents/lb week-on-week because of improving supply.
Spot ethylene margins have fallen around 6.9% in the past two week after nearly setting a new record high at 60.03 cents/lb for the week ended 28 January.
The record for ethylene margins remains 60.58 cents/lb for the week ended 6 April 2012, as assessed by ICIS.
Feedstock ethane prices increased to 11.12 cents/lb for the week ended 8 February, up by about 1.4% week-on-week from 10.97 cents/lb, further eroding margins.
Spot ethane cracker co-product values increased to 4.78 cents/lb from 4.76 cents/lb week on week, slowing some of the fall in ethylene margins.
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