HOUSTON (ICIS)--Asia ethylene margins continued to drop during the week ended 9 June on weaker spot ethylene values, the ICIS margin report showed on Monday.
Naphtha-based ethylene margins hit their lowest in more than year, while LPG-based margins hit their lowest since November.
In northeast Asia, naphtha-based ethylene margins fell by 0.2% week on week, while LPG-based margins fell by 4.0%.
In southeast Asia, naphtha-based ethylene margins fell by 5.4% and LPG-based margins fell by 10%.
The drops put LPG-based margins at their lowest since the week of 4 November 2016, when northeast Asia margins were at $402/tonne and southeast Asia margins were at $329/tonne.
Margins in Asia have been declining on weaker spot ethylene values, which shed $30/tonne in northeast Asia and $45/tonne in southeast Asia.
Feedstock costs on an ethylene production basis fell across the board during the week, as did co-product credit values.