LONDON (ICIS)--European contract and spot cracker margins have fallen week on week on the back of feedstock increases, aided by a stronger dollar, according to ICIS margin analysis on Monday.
In the week to 23 September, naphtha feedstock values increased by 6% in euro terms which resulted in declines of 11% and 13% for naphtha-based contract and spot margins respectively. Co-product credits were unchanged for contract margins but slightly weaker for spot.
Liquefied petroleum gas (LPG) costs rose by 3%, leading to a 3% drop for LPG-based contract cracker margins.
LPG weekly margins have been on a downward trend since the beginning of September, while naphtha-based margins have yo-yoed and are currently just €15/tonne below those for LPG.
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