21 October 2013 15:36 [Source: ICIS news]
LONDON (ICIS)--European contract cracker margins based on naphtha feedstock rose by about 2% on the back of a 0.5% fall in euro-based feedstock costs, according to ICIS margin analysis on Monday.
Naphtha prices increased by $5/tonne (€4/tonne) in the week ending 18 October but the dollar was 1% weaker. Co-product credits edged down slightly.
Spot margins were down by €20/tonne because of weaker ethylene spot prices. Co-product credits fell by 1% mainly because of lower benzene prices. Spot margins are at their lowest since early September.
Contract cracker margins based on liquefied petroleum gas (LPG) rebounded in the week to 18 October, gaining €20/tonne and widening the margin advantage to naphtha to nearly €80/tonne.
Euro-based LPG costs fell by 1.5% on a combination of softer LPG prices and the weaker dollar.
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