22 April 2013 17:22 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins increased by 3.9% for the week ended 19 April, the ICIS margin report showed on Monday.
US ethylene margins moved to 50.60 cents/lb ($1,116/tonne, €848/tonne) for ethane-based material, up from 48.68 cents/lb the previous week.
The rebound put ethylene margins back above 50 cents/lb after a one-week stay below that level.
The biggest reason for higher margins came from an increase in spot ethylene values, mostly on the lower end of the range.
US ethylene spot prices increased by 4.750 cents/lb on the bottom of the range while falling by only 0.875 cents/lb on the top end.
This was mostly because tight supply from several cracker outages kept a high floor on prices.
Additionally, feedstock ethane prices decreased during the week, falling to 12.51 cents/lb from 12.65 cents/lb.
Weaker propylene prices, however, lowered cracker co-product credit values to 4.30 cents/lb from 4.45 cents/lb, pushing down on ethylene margins.
On Monday, US ethylene for April was heard bid at 55 cents/lb against offers of 62 cents/lb.
($1 = €0.76)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections