03 September 2013 19:44 [Source: ICIS news]
HOUSTON (ICIS)—US ethylene spot margins fell by 0.6% week on week for the week ended 30 August, the ICIS margin report showed on Tuesday.
Margins for ethane-based spot ethylene fell to 47.28 cents/lb ($1,042/tonne, €792/tonne) from 47.58 cents/lb a week prior.
Most of the decline came as spot prices fell on average by 0.25 cents/lb week on week, tracking some improved supply.
Concerns about tight supply and increasing feedstocks have been balanced out by steady to slightly soft demand since late June, keeping margins mostly steady between 45-48 cents/lb.
Feedstock ethane costs increased to 11.11 cents/lb for the week ended 30 August compared with 10.95 cents/lb a week prior, further eroding margins.
Ethane cracker co-product credit values increased week on week, to 4.14 cents/lb from 4.03 cents/lb, tracking higher propylene costs.
US ethylene for September was bid at 54.75 cents/lb and offered at 55.50 cents/lb on Monday, sources said.
($1 = €0.76)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections