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US ethylene spot margins fell in the third week of June

June 21/2011

(ICIS) -- US ethylene spot margins fell by 1.4% in the third week of June due to a drop in ethylene (C2) spot prices, the ICIS margin report showed on Monday.

C2 margins fell to 34.96 cents/lb (USD 771/tonne, EUR 540/tonne), from 35.45 cents/lb a week earlier, using ethane as a feedstock. The drop followed a 1% average decline in C2 spot prices in the week ending 17 June.

C2 for June traded at 65.25-66.00 cents/lb last week, down from 65.00-67.50 cents/lb a week earlier, pressured by loosening supply and a softer outlook downstream resulting from weaker polyethylene (PE) demand.

US PE export demand has softened because of competition from lower Asian prices, while domestic demand is weakening as US buyers move to the sidelines in anticipation of lower prices.

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