16 December 2013 17:57 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene margins for the week ended 13 December fell 1.6% week on week, the ICIS margin report showed on Monday.
US ethylene margins for ethane-based spot material fell to 46.65 cents/lb ($1,028/tonne, €750/tonne) from 47.40 cents/lb the previous week.
The fall came despite a slight gain in ethylene spot prices, which tightened during the week but moved up an average of 0.125 cent/lb.
This was because feedstock ethane prices jumped to 12.40 cents/lb for the week ended 13 December compared with 11.55 cents/lb the previous week.
The rise in ethane was fuelled by stronger natural gas futures, sources said.
Ethane cracker co-product credits fell to 4.17 cents/lb from 4.21 cents/lb week on week, further softening ethylene margins.
US ethylene for December was traded at 55.000 cents/lb on Monday, up from the previous reported trade at 54.875 cents/lb on 12 December.
($1 = €0.73)
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