Strong Demand in Petchems Drive Prices Higher

Unexpectedly strong demand drove primary petrochemcial prices higher this week, with players reporting that a classic spike may be developing in European aromatics markets. Feedstock prices rose modestly, with spot naphtha nudging higher by $20/m.t. in northwest Europe. Spot olefins were said to do a little better with spot ethylene higher by €30/m.t. and propylene up €20/m.t. Butadiene was the sole loser for the week. September contracts were agreed lower by a nominal €25/m.t. but that was enough to put a negative vibe on spot markets, which...

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