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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections