U.S. Olefins Mostly Up on Tight Supply

U.S. olefins prices were mixed this week. Spot ethylene was up about 3 cts/lb, to 36 cts-37 cts/lb on news of an ethylene oxide production problem at one of LyondellBasell's plants. The company has set EO customers on 50% allocations, sources say. Little is known about the root of the problem, making it hard for market watchers to speculate on how long the situation will last.  Meanwhile, both grades of spot propylene were up about a penny. It appears that August contracts are in the process of settling; market players suggest that prices will settle at a...

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