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Spot olefins rise, July contracts settled
3:03 PM MDT | July 8, 2013 | Lindsay Frost
Buyers were firmly in control of July settlements on both sides of the Atlantic this week, players report. In northwest Europe, both ethylene and propylene contracts were rolled from June levels, while July butadiene plunged €250/m.t. Traders report that spot olefins prices rose in the wake of the contract settlement. Market watchers suggest that is because the roll confirmed support at those pricing levels. Spot ethylene rose €30/m.t. while propylene gained €10-20/m.t. That was also underpinned by a sharp rise in spot naphtha...
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