HOUSTON (ICIS)--Asian ethylene margins were split during the week ended 31 March, with liquefied petroleum gas (LPG)-based margins soaring and naphtha-based margins dropping, the ICIS margin report showed on Monday.
The gap was the result of feedstock movements in both northeast Asia and southeast Asia.
LPG costs on an ethylene production basis fell more than $170/tonne in both northeast Asia and southeast Asia, while naphtha costs on the same basis rose $68/tonne in each region.
This put LPG-based ethylene margins up 35% in northeast Asia to $645/tonne and up 46% in southeast Asia to $507/tonne.
Naphtha-based ethylene margins fell by 9.2% in northeast Asia to $719/tonne and fell by 12% in southeast Asia to $620/tonne.
Cracker co-product credits were down $10-15/tonne for LPG-based and naphtha-based ethylene in each region. Spot ethylene values were up $5/tonne in northeast Asia and flat in southeast Asia.