IHS Chemical Week

Olefins Prices Continue to Decline in U.S. and Europe

2:05 PM MDT | October 26, 2011 | Lindsey Bewley

North American feedstocks Ethane fell 4 cts/gal, butane lost 7 cts/gal and propane was lower by a penny. Spot olefins continues to ease. PGP fell about 6 cts/lb, while CGP fell about 8 cts/lb. Butadiene ticked lower by 3 cts/lb. Economic news in the U.S. was better than expected but gloom in Europe continues to deepen, giving commodity chemcial markets conflicting story lines. As a result trading was thin and ragged with no discernable patterns, players say.  Spot naphtha in northwest Europe skidded $35/m.t. but steam cracker operators could not take...

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