Olefins Prices in Europe Increase

After several weeks of battering, spot petrochemicals were deemed oversold, and prices turned higher across the board this week. Spot naphtha in northwest Europe led the way higher with an increase of $25/m.t. Spot ethylene gained €25/m.t., while spot propylene was close behind with a gain of €20/m.t., players say. No major uptick in demand or problem with supply was cited for the turn, with traders saying it was more of a technical reaction within an overall weak...

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