IHS Chemical Week

Mostly low olefins contracts settled for May start

1:18 PM MDT | May 6, 2013 | Lindsay Frost

Contract settlements tumbled in on May Day, with mostly lower results, players say. With spot naphtha in northwest Europe slipping by $30/m.t. there was no upstream support for olefins settlements, market watchers note. May ethylene was agreed lower by an even €100/m.t. ($131), while propylene was done down by €80/m.t. and butadiene by €75/m.t. Spot C2 and C3’s slipped €20/m.t., buyers report. In the United States, spot naphtha dropped down to $2.08/gal while spot propane edged up to 95 cts/gal. Chemical-grade and polymer-grade propylene...

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