11 November 2013 19:26 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins climbed 7.9% week on week for the week ended 8 November, the ICIS margin report showed on Monday.
US ethylene margins for ethane-based spot material moved to 44.82 cents/lb ($988/tonne, €741/tonne), up from 41.54 cents/lb the previous week.
Most of the margin increase came from US spot ethylene prices gaining 1.5-4.0 cents/lb during the week as bargain buying continued.
US spot ethylene prices rebounded to a six-week high after hitting a 15-month low in early October.
Ethylene margins were also boosted by a decline in feedstock ethane costs, which moved to 10.55 cents/lb for the week ended 8 November from 11.13 cents/lb the previous week.
Ethane cracker co-product credits fell to 4.12 cents/lb from 4.17 cents/lb, slowing down the gain in ethylene margins.
US ethylene for November traded at 52.25 cents/lb on Monday, flat with its previous reported trade the previous week.
($1 = €0.75)
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