18 March 2013 16:46 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins increased by 1.5% week on week, tracking stronger spot prices, the ICIS margin report showed on Monday.
US ethylene margins for the week ended 15 March were assessed at 56.35 cents/lb ($1,242/tonne, €957/tonne) for ethane-based spot material.
Ethylene margins for the previous week were assessed at 55.54 cents/lb.
The gain in margins was mostly fuelled by an increase of 0.25-1.50 cents/lb in spot prices, tracking an unexpected cracker shutdown.
Additionally, feedstock ethane costs decreased slightly during the week, moving to 11.79 cents/lb from 11.80 cents/lb.
However, weakness in the US propylene market helped push ethane cracker co-product credits lower, to 4.89 cents/lb from 4.96 cents/lb a week earlier.
On Monday, US ethylene for March was heard bid at 61.5-63.5 cents/lb, with offer levels at 66.0-67.0 cents/lb.
($1 = €0.77)
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