25 November 2013 15:36 [Source: ICIS news]
LONDON (ICIS)--European contract cracker margins based on naphtha feedstock have slumped to their lowest level since July 2012 because of a 4.3% rise in euro-based naphtha prices, ICIS margin analysis showed on Monday.
In the week ending 22 November, a 0.4% weaker dollar offset the impact of a $44/tonne (€33/tonne) rise in naphtha prices.
Co-products credits climbed by 0.6% on the back of higher raffinate 1 and pyrolysis gasoline (pygas) values.
Spot margins have fallen into negative territory for the first time since mid December 2012 for the same reasons. Co-product credits were 1.1% higher because of firmer raffinate 1 and aromatics values.
Contract cracker margins based on liquefied petroleum gas (LPG) sank by 50% as feedstock costs jumped by 6.2%. LPG prices rose by more than $62/tonne – the highest cost since early December 2012. LPG margins are the lowest since mid-November last year.
($1 = €0.74)
Follow Nel on Twitter
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections