25 November 2013 17:50 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins for the week ended 22 November fell by 2.3% week over week, the ICIS margin report showed on Monday, following a drop in spot prices.
Margins for ethane-based spot ethylene fell to 45.89 cents/lb ($1,012/tonne, €749/tonne) from 46.99 cents/lb the previous week.
The fall followed spot ethylene prices, which shed 1.4% week over week as a recent rally petered out on soft demand and continued long supply.
The decline in margins also ended a streak of four consecutive week-on-week increase, mostly from the rally in spot prices.
US ethane prices increased to 11.16 cents/lb from 10.86 cents/lb, further eroding margins for ethylene.
Ethane cracker co-product credits fell to 4.18 cents/lb from 4.23 cents/lb despite higher prices for propylene.
US ethylene for November was heard bid at 52 cents/lb on Monday and offered at 55 cents/lb.
($1 = €0.74)
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