HOUSTON (ICIS)--Asian ethylene margins reached their highest levels since early and late May during the week ended 11 August, the ICIS margin report showed on Monday.
In northeast Asia, naphtha-based ethylene margins rose by 24% during the week, while margins based on liquefied petroleum gas (LPG) rose by 21%. In southeast Asia, naphtha-based and LPG-based margins rose 28%.
The increases put naphtha-based margins in NE Asia and SE Asia at their highest since the week ended 5 May.
LPG-based ethylene margins are at their highest in NE Asia since the week ended 19 May and at their highest in SE Asia since the week ended 26 May.
Most of the increase for Asian ethylene margins came as spot ethylene values rose by $100/tonne in NE Asia and by $95/tonne in SE Asia.
Cracker co-product credits rose across the board, up by $18-20/tonne for naphtha-based ethylene and rising by $9/tonne for LPG-based ethylene.
Feedstock costs on an ethylene production basis fell by $25/tonne for naphtha-based ethylene but rose by $12-13/tonne for LPG-based ethylene.