04 November 2013 20:05 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins gained 8.2% week on week for the week ended 1 November, the ICIS margin report showed on Monday.
Ethylene margins for ethane-based spot material moved to 41.54 cents/lb ($916/tonne, €678/tonne) from 38.39 cents/lb a week ago.
Ethylene margins have gained about 14% since hitting a 14-month low at 36.57 cents/lb for the week ended 11 October.
Most of the increase for ethylene margins came as spot prices gained 1.50-4.75 cents/lb week on week, tracking bargain buying and higher feedstock costs.
Ethane costs were slightly lower for the week ended 1 November, at 11.13 cents/lb from 11.14 cents/lb the previous week, boosting ethylene margins.
Ethane cracker co-product credit values increased to 4.17 cents/lb from 4.16 cents/lb, also slightly strengthening margins.
US ethylene for November was bid at 48 cents/lb on Monday against no fresh offers.
($1 = €0.74)
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