11 March 2013 19:27 [Source: ICIS news]
HOUSTON (ICIS)—US ethylene margins increased by 1.1% week on week last week, tracking higher spot ethylene prices, the ICIS margin report showed on Monday.
The ethylene margins for material using ethane as a feedstock increased to 55.54 cents/lb ($1,224/tonne, €943/tonne) for the week that ended on 8 March.
They rose from 54.95 cents/lb a week earlier and from 54.98 cents/lb two weeks previously.
The biggest reason for the increase was the upward price movement of spot ethylene, which gained 0.25-1.00 cents/lb last week.
However, market sources said they expect that spot prices will start to drop in March on improving supply and cheap feedstock costs.
Ethane costs increased during the week, moving to 11.80 cents/lb from 11.78 cents/lb the previous week.
Also, ethane cracker co-product credit values fell slightly, to 4.96 cents/lb from 4.98 cents/lb a week earlier.
US ethylene for March traded at 63.25 cents/lb on Monday, flat with the highest-priced trade last week.
($1 = €0.77)
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