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Olefins prices mixed, butadiene shows sharp decline
10:32 AM MDT | July 29, 2013 | Lindsay Frost
With surprisingly robust demand and pricing in polyolefins in Europe, spot ethylene and propylene were able to hold the line, market watchers say, even as spot butadiene crumpled. Upstream spot naphtha ticked lower by $10/m.t., but attention was drawn to spot butadiene, which plumeted $250/m.t. Buyers say the drop was just a reflection of the sharp decline in July contracts, but sellers counter spot material is oversold at a more than a 30% discount to contract, not counting freight charges...
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