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European olefin prices drop, stable in US
12:09 PM MDT | April 15, 2013 | Lindsay Frost
European olefins were sharply lower in spot trading this week, boxed in by declining feedstock prices upstream and weak demand downstream. Spot naphtha was lower by $30/m.t. in northwest Europe. Spot ethylene was down by €35/m.t. ($48) as demand for polymers continues to be weak and despite the start of a 2-month maintenance turn at Total’s cracker at Carling, France. The outage was known well in advance and swaps had been arranged. Propylene was lower by €40/m.t. and butadiene down by $50/m.t. In the United States, spot butadiene prices...
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