Petchem Prices Remain Stagnant Despite Hurricane Isaac

Petrochemical markets were relatively quiet in the last week of August, despite Hurricane Isaac pounding the Gulf Coast, shuttering many plants or sharply reducing rates. In northwest Europe, continuing demand for olefin derivatives, described as not strong but better than expected, pushed spot prices higher. Ethylene moved up by €50 ($62.90)/m.t,. while propylene rose €40/m.t. and butadiene gained $50/m.t., players say. Seller ideas for August's contract increases are €150–€200/m.t. which buyers say is too rich. In...

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