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US ethylene spot margins remained on an uptrend last week

June 14/2011

(ICIS) -- US ethylene spot margins remained on an uptrend last week, lifted by higher spot prices and mostly steady feedstock costs, the ICIS margin report showed on Monday. Using ethane as a feedstock, margins were at 35.45 cents/lb (USD 782/tonne, EUR 547/tonne) in the week ended 10 June, up from 34.72 cents/lb a week earlier.


The 2% increased followed higher spot prices last week, as ethylene for June traded at 65.00-67.50 cents/lb, rising from deals done at 64.500-65.125 cents/lb in the week ended 3 June.


Market sources cited an outage at the Williams cracker in Geismar, Louisiana, early last week, as one of the reasons for the increase in spot prices. The 612 KTa unit went down following a power outage on 4 June, the company said.


Williams restarted the cracker on 9 June, a spokesperson said, adding that the unit was expected to be running at full rates within one week.


Ethylene bids and offers for June were wide apart on Monday at 65-69 cents/lb.


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