15 July 2013 16:26 [Source: ICIS news]
HOUSTON (ICIS)--US polyethylene (PE) margins for low density polyethylene (LDPE) rose by 0.3%, following a rise in co-product credits, the ICIS margin report showed on Monday.
Integrated domestic PE margins were assessed at 63.99 cents/lb ($1,411 /tonne, €1,086/tonne) for LDPE and 54.64 cents/lb for high density polyethylene (HDPE) blow moulding in the week that ended on 12 July. That represents a 0.23 cent/lb increase on average from a week earlier, using ethane as a feedstock.
The PE margin increased based on a 7.1% rise in co-product credits caused by higher crude C4 and pygas values. Ethane costs increased by 0.3% as ethane spot prices increased slightly.
Integrated export LDPE margins climbed by 0.74 cents/lb, while HDPE margins increased by 1.24 cents/lb. The margin improvements were largely a result of a rise in spot export prices, as well as higher co-product credits.
($1 = €0.77)
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