23 September 2013 17:34 [Source: ICIS news]
HOUSTON (ICIS)--US spot ethylene margins fell 1.7% for the week ended 20 September, the ICIS margin report showed on Monday.
Ethylene margins for ethane-based spot material fell to 45.51 cents/lb ($1,003/tonne, €742/tonne) from 46.31 cents/lb a week ago.
The drop came as front-month ethylene traded at its lowest level in nine months with a deal at 51.625 cents/lb on 20 September, pushing spot prices down by an average of 0.82 cents/lb week on week.
The drop in spot prices came on the back of lengthening supply and steady demand, as well as stable feedstock costs.
US ethane prices were unchanged at 10.87 cents/lb during the week ended 20 September.
US cracker co-product credit values were slightly higher, at 4.07 cents/lb compared with 4.05 cents/lb a week ago.
US ethylene for September traded at 52.125 cents/lb on Monday, a slight rebound from the previous reported trade at 52.000 cents/lb late on 20 September.
($ 1 = €0.74)
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