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)
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