29 April 2013 15:57 [Source: ICIS news]
HOUSTON (ICIS)—US ethylene margins fell by 0.3% week on week as feedstock costs increased slightly, the ICIS margin report showed on Monday.
US ethylene margins for the week ended 26 April were at 50.45 cents/lb ($1,112/tonne, €856/tonne) for ethane-based material. Margins were at 50.60 cents/lb the previous week.
US ethylene spot prices were unchanged during the week, as buyers and traders said the market lacked a clear direction and demand was soft.
As a result, margins were mostly driven lower by a 1.6% increase in feedstock ethane costs, which moved up to 12.71 cents/lb from 12.51 cents/lb.
The feedstock increase was slightly curbed by higher cracker co-product values, which moved to 4.35 cents/lb from 4.30 cents/lb a week earlier.
Co-product values increased because of higher propylene prices, which were mostly fuelled by improved demand.
US ethylene for April was last heard bid at 55 cents/lb.
($1 = €0.77)
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