IHS Chemical Week

Olefins jump in prices after several weeks of decline

8:54 AM MST | January 2, 2013 | Lindsay Frost

The first settlement of 2013 was done the week of 19 December, as the first quarter methanol contract in Europe was agreed at an increase of €30 ($40)/m.t. Attention in the rest of the market was said to be still in spot business, players say. Spot naphtha in northwest Europe rose $40/m.t. That rise gave a boost to sagging olefins prices, which were able to reverse several weeks of slow decline with gains of €20/m.t. for ethylene and €10/m.t. for...

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