Spot Olefins in Europe Tighten on Cracker Maintenance Outages

With the global petrochemical meetings in Houston and San Antonio just a week away, markets were generally quiet, traders say. That regular annual situation was enhanced by the tragic events in Japan, which cut both supply and demand for many commodity chemicals, leaving players in Europe and North America unsure of near-term directions. Energy prices moderated, pulling spot naphtha prices in Northwest Europe lower by $60/m.t. Several maintenance turns at major European steam crackers tipped olefins markets from balanced to tight, traders say. Spot ethylene was...

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