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Olefins Trading Busy in U.S., Quiet in Europe
1:11 PM MDT | May 7, 2010 | Lindsey Bewley
U.S. olefins were active in the spot market, as both grades of propylene lost about 3 cts/lb and butadiene gained about 2 cts/lb. Spot ethylene was down about 18 cts/lb, to 43 cts/lb, due to production catching up with demand following a series of cracker outages. Meanwhile, the April contract price for ethylene was settled at a decrease of 3 cts/lb, to 52.5 cts/lb. In Europe, spot olefins were generally flat. The only notable change reported was spot propylene, which was lower by €20/m.t. In contract settlements propylene was also the only olefin to move...
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