15 July 2013 16:30 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins for the week ended 12 July fell by 3.1% week on week, the ICIS margin report showed on Monday.
US ethylene margins for ethane-based spot material fell to 48.18 cents/lb ($1,062/tonne, €818/tonne) from 49.74 cents/lb the previous week.
Most of the decline came from a drop in spot price values, which shed an average of 3.2% week on week.
US spot prices fell as a cracker restart improved supply, and several downstream plant issues led to slightly softer demand.
Ethylene margins also dropped on slightly higher feedstock ethane costs, which moved to 10.65 cents/lb from 10.63 cents/lb a week ago.
Ethane cracker co-product credit values increased during the week, moving to 3.89 cents/lb from 3.62 cents/lb and boosting margins.
US ethylene was heard bid at 50.0-53.5 cents/lb on Monday and offered at 57.0 cents/lb.
($1 = €0.77)
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