US ethylene margins up slightly on increase in spot prices

27 August 2013 17:47  [Source: ICIS news]

HOUSTON (ICIS)--US ethylene margins were slightly higher for the week ended 26 August, the ICIS margin report showed on Tuesday.

Margins for ethane-based spot ethylene moved up to 47.58 cents/lb ($1,049/tonne, €787/tonne) from 47.45 cents/lb a week earlier.

The increase in margins was mostly fuelled by slightly higher spot prices, which gained an average of 0.50 cents/lb.

However, spot prices peaked in the middle of the week before falling slightly on the easing of supply concerns.

Spot ethylene was bid on Tuesday at 54.50 cents/lb and offered at 56.00 cents/lb.

Ethylene margin gains were slowed by feedstock ethane costs, which rose to 10.95 cents/lb for the week ended 26 August from 10.59 cents/lb a week earlier.

Ethane cracker co-product credits were virtually stable, at 4.03 cents/lb the week ended 26 August from 4.04 cents/lb a week earlier.

($1 = €0.75)

By: John Dietrich

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