European Olefins Prices On the Rise

Contract prices were agreed for European olefins this week, a few days earlier than usual. Market watchers are saying that it could indicate that the recent rocket ride for prices is slowing. April ethylene was agreed at an increase of €40/m.t. while propylene was done higher by €50/m.t. Butadiene added €90/m.t. while spot material added $150/m.t. Other spot olefins were already trading above where the new contract levels were, and little new activity was reported. Feedstocks were also lower, with spot naphtha in northwest Europe off...

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