US ethylene spot prices fell sharply during the week ended 15 April, dropping by 10% to 58.50 cents/lb in one day on pressure from lower ethane and crude oil prices early in the week.
US ethylene margins fell by nearly 4% in the second week of April following a drop in ethylene spot prices, the ICIS margin report showed on Monday.
Ethylene spot margins were at 32.54 cents/lb ($717/tonne, €495/tonne) last week, down from 33.81 cents/lb in the previous week, using ethane as a feedstock.
Crude oil prices fell after a large US investment bank warned its clients that prices had climbed far above the values supported by market fundamentals.
The comment spooked investors, causing the front-month West Texas Intermediate (WTI) contract to shed 6% in only two days.
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