08 April 2013 20:54 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins fell by 2.9% for the week ended 5 April, the ICIS margin report showed on Monday.
US ethylene margins fell to 50.90 cents/lb ($1,122/tonne, €864/tonne) for ethane-based spot material, compared with 52.40 cents/lb a week prior.
The drop in margins came on the back of weaker spot prices, owing to increased supply and steady demand.
US spot ethylene prices fell by an average of 2 cents/lb during the week and continued to trend lower at the start of Monday.
US ethylene for April was traded at 55.0 cents/lb on Monday, down from a deal done at 57.5 cents/lb on 5 April.
Margins also fell because of lower ethane cracker co-product values, which fell to 4.59 cents/lb from 4.77 cents/lb a week ago.
The drop in spot ethylene and co-product values was slightly countered by cheaper feedstock costs.
US ethane prices fell to 12.56 cents/lb for the week ended 5 April, compared with 13.24 cents/lb a week earlier.
($1 = €0.77)
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