10 September 2013 11:10 [Source: ICIS news]
BERLIN (ICIS)--European contract cracker margins based on naphtha feed increased by €39/tonne ($52/tonne), or 17% week on week, following a €50/tonne hike in the ethylene contract price for September, according to ICIS margin analysis on Tuesday.
In the week ending 6 September, naphtha prices rose by $14/tonne which, combined with a slightly stronger dollar, led to a 1.7% rise in euro-based feedstock costs.
Margins were helped by a 2.2% rise in co-product credits with the value of all components, except pygas, increasing.
Spot margins were up slightly as firmer spot ethylene prices combined with a 2.2% increase in co-product credits, outweighed the higher feedstock costs.
Contract margins based on liquefied petroleum gas (LPG) soared by €94/tonne, benefiting from a 0.9% fall in euro-based feedstock costs as LPG prices weakened by $10/tonne. Co-product credits rose by 3.7%. LPG margins have a €117/tonne premium over naphtha margins.
($1 = €0.75)
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