HOUSTON-US ethylene margins fell by 3.4% during the week ended 3 December following a drop in spot prices for the monomer, the ICIS margin report showed on Monday.
Using ethane as a feedstock, ethylene margins fell to 23.84 cents/lb ($526/tonne, 394/tonne), down from 24.69 cents/lb in the week ended 26 November.
Mont Belvieu ethane prices were steady in the first week of December, ending Friday at 66.00 cents/gal.
Meanwhile, spot ethylene for December traded at 50.000-51.375 cents/lb, down from 51.375 cents/lb the previous week.
The drop stemmed from slightly looser supply as some US crackers resumed production after planned maintenance and unexpected outages in November.
Three US crackers were off line this week, but that compared with as many as six units down at the beginning of November.
US ethylene for December was offered on Monday at 52.00 cents/lb with no bids.
Ethane prices climbed to 65.75-66.75 cents/gal earlier in the day, spurred on by higher crude oil futures last week and forecasts calling for strong demand for crude and heating oil.
($1 = 0.75)
Using ethane as a feedstock, ethylene margins fell to 23.84 cents/lb ($526/tonne, 394/tonne), down from 24.69 cents/lb in the week ended 26 November.
Mont Belvieu ethane prices were steady in the first week of December, ending Friday at 66.00 cents/gal.
Meanwhile, spot ethylene for December traded at 50.000-51.375 cents/lb, down from 51.375 cents/lb the previous week.
The drop stemmed from slightly looser supply as some US crackers resumed production after planned maintenance and unexpected outages in November.
Three US crackers were off line this week, but that compared with as many as six units down at the beginning of November.
US ethylene for December was offered on Monday at 52.00 cents/lb with no bids.
Ethane prices climbed to 65.75-66.75 cents/gal earlier in the day, spurred on by higher crude oil futures last week and forecasts calling for strong demand for crude and heating oil.
($1 = 0.75)
