据ICIS网站9月13日伦敦报道，全球经济放缓和需求下降的威胁，并没有阻止欧洲乙烯裂解装置利润率在过去一年里的增长。

由于8月份乙烯利润率比2018年同期高出50%，市场对生产商有利。

根据ICIS利润率分析，欧洲石脑油裂解装置的合约利润增加了164欧元/吨，达到536欧元/吨。

使用液化石油气（LPG）的裂解器的合约利润率上升得更快——上涨277欧元/吨至787欧元/吨。

裂解石脑油生产商的现货利润率增加了160欧元/吨，至每吨520欧元。

那些裂解液化石油气的现货利润上涨了289欧元，至766欧元/吨。这种上升趋势与较低的原料价格直接相关。

尽管8月份乙烯合同参考价格比2018年同期下降了14%，但与石脑油和液化石油气成本下降的速度相去甚远。

石脑油的价格比2018年8月下降了33%，而丙烷和丁烷的价格分别下降了49%和46%。

总的来说，石油成本的大幅下降，与石脑油等液化原料的石化生产商的利润率有所改善有关。

这通常是以生产者使用不直接来自石油的原料为代价的，例如那些使乙烷裂解或使用甲醇制烯烃（MTO）技术的原料。

郝芬 译自 ICIS

原文如下：

Europe ethylene margins soar on the back of lower feedstock prices

The threat of a global economic slowdown and declining demand have not stopped ethylene cracker margins in Europe from growing over the last year.

The market has fallen in favour of producers, as ethylene margins in August were 50% higher than in the same month in 2018.

According to ICIS margin analysis, naphtha-based crackers in Europe increased their contract margins by €164/tonne of ethylene produced, reaching €536/tonne.

Crackers using liquefied petroleum gas (LPG) have seen their contract margins go up even more – a rise of €277/tonne to €787/tonne.

Spot margins for producers cracking naphtha increased by €160/tonne, reaching a total of €520/tonne.

Those cracking LPG rose their spot margins by €289 to €766/tonne.

The rising trend is directly linked to lower feedstock prices.

Although the ethylene contract reference price was 14% lower in August than in the same month of 2018, it has not kept pace with the decline in naphtha and LPG costs.

Naphtha values fell by 33% compared to August 2018, while propane and butane prices dropped by 49% and 46%, respectively.

In general, a collapse in the cost of oil, like the one registered in October 2018, is associated with an improvement in margins for those petrochemical producers who crack liquid feedstocks such as naphtha.

This is typically at the expense of producers using feedstocks not directly derived from oil, like those who crack ethane or use methanol-to-olefins (MTO) technology.