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US ethylene margins fall 15% on higher feed, lower spot prices

September 20/2011

(ICIS) -- US ethylene margins continued to fall in the second week of September, dropping by 15% from a week earlier on lower spot prices and higher production costs, the ICIS margin report showed on Monday.

Ethylene margins were at 26.88 cents/lb (USD 593/tonne, EUR 433/tonne) in the week ended 16 September, down from 31.61 cents/lb a week earlier, using ethane as a feedstock. The drop last week followed a nearly 4% average decline in ethylene spot prices, as the monomer traded at 57.25Ц60.00 cents/lb for September delivery, down from 60.00Ц62.00 cents/lb a week earlier.

Market sources continued to point to looser supply, citing a delay in a Dow Chemical cracker turnaround in Louisiana that originally was scheduled for October.

Dow was expected to shut down the 610 KTa cracker in St Charles on 10 October for 30 days, but sources said the company decided to push the shutdown back to January 2012 or possibly the first half of 2013.

Tags:ethylene, Dow.
Category:General News
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