15 April 2013 17:27 [Source: ICIS news]
HOUSTON (ICIS)—US spot ethylene margins fell to their lowest level of 2013 on weaker spot prices, higher feedstock costs and softer co-product values, the ICIS margin report showed on Monday.
US spot ethylene margins for the week ended 12 April fell to 48.68 cents/lb ($1,073/tonne, €816/tonne) for ethane-based material.
Spot margins for the week ended 5 April were assessed at 50.90 cents/lb.
The current spot margins are at their lowest since mid-December 2012, when they were in the mid-40s cents/lb.
US spot ethylene prices fell by an average of 3.4% week on week, but started to rebound in the second half of the week on news of a cracker outage.
Feedstock ethane prices increased during the week, moving to 12.65 cents/lb from 12.56 cents/lb the previous week.
Additionally, ethane cracker co-product values fell to 4.45 cents/lb from 4.59 cents/lb, mostly on weaker propylene spot prices because of soft demand.
US ethylene for April was bid at 59.50 cents/lb on Monday against offers of 63.25 cents/lb.
($1 = €0.76)
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