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Olefins Prices Tracking Higher in U.S. and Europe
9:34 AM MST | December 16, 2010 | Lindsey Bewley
U.S. feedstocks were up this week, with naphtha adding about 2 cts/gal, ethane rising 1 ct/gal, butane up 5 cts/gal and propane higher by 2 cts/gal. Spot propylene and butadiene in the U.S. were also higher on growing demand. Spot PGP rose about 5 cts/lb, while spot butadiene rose about 2 cts/lb. December contracts for propylene settled up at a gain of 3 cts/lb. Meanwhile, spot ethylene tracked downward, falling about 2 cts/lb on lengthening supply, market players say. Spot naphtha in northwest Europe was reported lower by $20/m.t., while spot olefins...
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