Olefins Prices Decline in Europe

Both buyers and sellers seemed eager to close the book on 2011, and as a result just about every major monthly contract for December was concluded by November 30. Buyers prevailed in most cases, securing modest decreases, but with yearend volumes typically thin, it would be hard to say sellers had given up much. December ethylene in northwest Europe was agreed lower by €15/m.t. with propylene on the same pace, down €18/m.t. Butadiene for December was concluded lower by €200/m.t., bringing it into line with prevailing spot prices...

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