19 August 2013 17:29 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins moved up 2.9% week on week for the week ended 16 August, the ICIS margin report showed on Monday.
US ethylene margins for ethane-based spot material increase to 47.45 cents/lb ($1,046/tonne, €785/tonne) from 46.12 cents/lb.
The increase was mostly supported by higher spot values, which gained an average of slightly more than 1 cent/lb during the week.
Margins were also boosted by falling feedstock costs as ethane prices dipped to 10.59 cents/lb from 10.78 cents/lb week on week.
Cracker co-product credits also improved to 4.04 cents/lb from 3.96 cents/lb, tracking surging propylene values.
US ethylene for August was offered at 58.5 cents/lb on Monday against no fresh bids.
($1 = €0.75)
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