Petchem prices reported lower as capacity comes online

Volume and vigor returned to transatlantic petrochemical markets this week, with buyers holding the upper hand in most cases as prices were lower overall. Spot naphtha in northwest Europe was reported to be down a hefty $60/m.t. That, in addition to word that Shell’s cracker complex at Moerdjk, the Netherlands was returning to service, sent spot olefins prices lower. Ethylene was down by €60/m.t., propylene was lower by €50/m.t., and butadiene was off $50/m.t., market sources...

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