European cracker margins fall on feedstock gains

Source: ICIS News


LONDON (ICIS)--European ethylene cracker margins have fallen week on week on the back of feedstock gains, the latest ICIS margin analysis showed.

Arrow downIn the week to 18 May, euro-denominated naphtha and liquefied petroleum gas (LPG) values rose by 4.04% and 7.95%, respectively.

Naphtha-based contract cracker margins fell by 11.68%, to €363/tonne, the first time weekly margins have moved below €400/tonne since mid-December 2016.

Co-products credits were 2.11% higher week on week.

Spot naphtha-based margins fell 3.76%. Co-products credits were up 3.36% week on week.

LPG-based contract margins fell by 12.08% week on week. Co-products credits were up by 1.8%.

The LPG margin advantage has narrowed to €190/tonne, down from €218/tonne in the week ending 11 May.

Picture source: Helmut Meyer zur Capellen/imageBROKER/REX/Shutterstock

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