28 October 2013 15:34 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins increased 4.7% week on week for the week ended 25 October, the ICIS margin report showed on Monday.
Ethylene margins for ethane-based spot material moved up to 38.39 cents/lb ($846/tonne, €609/tonne) from 36.65 cents/lb a week ago.
The increase was largely the result of spot ethylene prices staying firm on bargain buying after coming down significantly in early October on long supply.
US ethylene spot prices gained 0.750-2.375 cents/lb week on week and could continue to rally until October contracts are settled.
Ethylene margins were also boosted by a decline in feedstock ethane, which fell to 11.14 cents/lb from 11.25 cents/lb week on week.
Ethane cracker co-product credits increased, up to 4.16 cents/lb from 4.08 cents/lb, further boosting margins.
US October spot ethylene was bid at 47.5 cents/lb on Monday against no fresh offers.
($1 = €0.72)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections