20 May 2013 15:50 [Source: ICIS news]
HOUSTON (ICIS)--US polyethylene (PE) margins for low density polyethylene (LDPE) rose by 0.6%, following a slight decrease in ethane costs and a rise in co-product credits, the ICIS margin report showed on Monday.
Integrated domestic PE margins were assessed at 62.88 cents/lb ($1,386/tonne, €1,081/tonne) for LDPE and 51.56 cents/lb for high density polyethylene (HDPE) blow moulding in the week that ended on 17 May. That represents a 0.35 cent/lb increase on average from a week earlier, using ethane as a feedstock.
Margins for 10 May were revised downwards following the settlement of the propylene contract price for May.
The margin improved based on a 2.3% decrease in ethane costs and a 1.2% rise in co-product credits.
Co-product credits are the price at which products such as propylene, butadiene (BD) and benzene, which are made along with ethylene in the cracking process, can be sold.
Integrated spot export LDPE margins rose by about 0.38 cents/lb, based on the decrease in ethane costs, as well as a 1.8% rise in co-product credits.
($1 = €0.78)
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