14 October 2013 15:35 [Source: ICIS news]
LONDON (ICIS)--European contract cracker margins based on naphtha feedstock have fallen by €44/tonne ($59/tonne) on the back of a 2.4% increase in euro-based naphtha costs, according to ICIS analysis on Monday.
In the week ending 11 October, naphtha prices rose by $20/tonne, and the dollar was slightly stronger. The margin drop was cushioned a little by a 0.4% rise in co-product credits, namely from higher raffinate-1 and pygas (pyrolysis gas) values.
Cracker margins based on liquefied petroleum gas (LPG) feedstock were also down as euro-based costs rose by 2.5% on the back of a $19/tonne firming in LPG prices.
Co-product credits were just 0.3% higher.
LPG margins are showing a €67/tonne premium over naphtha margins.
($ 1 = €0.74)
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