LONDON (ICIS)--European cracker margins based on naphtha feedstock rose in the week ending 16 September, but an increase in liquefied petroleum gas (LPG) prices pushed LPG-based margins down, ICIS margin analysis showed on Monday.
Euro-based naphtha costs fell by around 5% week on week, which led to improvements of 12% and 13% for contract and spot margins respectively. Spot margins are slightly ahead of those for the contract.
Co-product credits in both cases were largely unchanged.
LPG contract cracker margins fell by 6% on a 5% gain in LPG costs – co-product values were stable.
Naphtha margins are currently showing a small - €34/tonne - premium over those for LPG.
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