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