16 September 2013 15:32 [Source: ICIS news]
LONDON (ICIS)--European contract cracker margins rose by nearly a quarter week on week because of a fall in feedstock naphtha costs, according to ICIS analysis on Monday.
In the week ending 13 September, a drop of $29/tonne (€21.75/tonne) combined with a 0.8% weaker dollar led to a 3.8% drop in euro-based naphtha costs. Co-product credits fell by 1.8% on weaker pyrolysis gasoline (pygas) and raffinate-1 values.
Spot margins also strengthened on the back of the softer naphtha costs. Spot co-product credits fell by 1.6% as lower pygas and raffinate-1 values outweighed higher spot butadiene (BD) prices. The weaker dollar impacted on spot ethylene prices although in dollar terms they were unchanged.
Contract cracker margins based on liquefied petroleum gas (LPG) rose by €48/tonne as liquefied petroleum gas (LPG) prices slipped by 3.2%. LPG contract margins are at their highest level since the end of June.
($1 = €0.75)
Follow Nel on Twitter
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