HOUSTON (ICIS)--Asian ethylene margins were split during the week ended 7 October, with naphtha-based product tumbling and LPG-based product moving up slightly.
Naphtha-based ethylene margins in Northeast Asia fell by 13%, while margins in Southeast Asia fell by 12%, each at $619/tonne.
Higher feedstock naphtha costs for ethylene production were the major driver, with naphtha costs in NE Asia and SE Asia increasing by $135/tonne.
The increase outweighed higher co-product credit values, which rose by $46/tonne in both regions.
Asian ethylene margins for LPG-based product rose 2.8% to $687/tonne in NE Asia and rose by 3.7% to $653/tonne in SE Asia.
For LPG-based ethylene, feedstock costs on a production basis were flat in both NE Asia and SE Asia.
Co-product credits for LPG-based ethylene rose by $19/tonne in each region.
Margins were largely unaffected by ethylene spot prices, which were flat in NE Asia and up $5/tonne in SE Asia.
Since the start of September, ethylene margins have tumbled across the board. Naphtha-based margins are down by 32% in 24% in NE Asia and SE Asia, respectively.
For LPG-based margins, values are down by 24% in NE Asia and are down by 15% in SE Asia.