Traders reported some convergence in European olefins markets this week prompted by modest moves in March contract settlements. Spot naphtha ticked higher by $10/m.t. but that was considered inconsequential. The ethylene contract was agreed lower by €20/m.t. sources say, reflecting seller resistance to significantly lower spot numbers. However, with the roll of March propylene contracts, spot numbers were reported lower by €30/m.t. for chemical grade and €40/m.t. for polymer grade, taking those levels to more of a normal relation to the contract...
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