16 September 2013 16:16 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins rose 1.2% week on week for the week ended 13 September, the ICIS margin report showed on Monday.
US ethylene margins for ethane-based spot material were 46.31 cents/lb ($1,021/tonne, €766/tonne), up from 45.78 cents/lb a week ago.
The boost in margins was largely driven by an increase in spot ethylene prices, which started the week softer before rebounding.
US spot ethylene gained an average of 0.25 cents/lb week on week as the range tightened, mostly as supply concerns eased and demand remained strong.
Despite US crackers running strong, feedstock ethane costs weakened during the week ended 13 September to 10.87 cents/lb from 11.16 cents/lb, further boosting ethylene margins.
US ethane cracker co-product credits fell slightly to 4.05 cents/lb from 4.07 cents/lb as propylene prices were softer week on week.
However, propylene prices ended the week moving up, just as ethylene did, which could boost margins soon.
US September ethylene traded at 54.5 cents/lb on Monday, flat with the previous reported trade.
($1 = €0.75)
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