25 March 2013 16:23 [Source: ICIS news]
SAN ANTONIO (ICIS)--US ethylene margins moved 0.4% higher for the week ended 22 March, the ICIS margin report showed on Monday.
US ethylene margins moved to 56.59 cents/lb ($1,248/tonne, €961/tonne) for spot material using ethane as a feedstock.
Margins were at 56.35 cents/lb for the week ended 15 March, according to the report.
The increase in ethylene margins was mostly driven by spot prices moving slightly higher on increasing demand from the US polyvinyl chloride (PVC) market.
US spot ethylene prices increased by 0.50-1.75 cents/lb week on week.
The gain in spot prices outweighed higher feedstock ethane costs and a decrease in cracker co-product values.
US ethane costs increased to 12.49 cents/lb from 11.79 cents/lb a week earlier.
Cracker co-product credits fell to 4.70 cents/lb from 4.89 cents/lb a week earlier.
($1 = €0.77)
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