Subscriber Note: Platts refined NWE cracker margin model effective July 1

Platts refined European steam cracker margin model of PCM = 0.96*Ethylene FD NWE + 0.54*Propylene FD NWE + 0.19*benzene CIF ARA 3-30 days forward + 0.55*gasoline 10 ppm FOB Rdam barge + 0.17*butadiene FD NWE + (-0.0935*LSFO 1% CIF NWE) + (-3.13*Naphtha CIF NWE cargo), will go live July 1, 2013. The proposal was initially announced April 5. Please send all questions and feedback to petchems@platts.com and pricegroup@platts.com.