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European Olefins Prices Post Gains
9:03 AM MST | February 6, 2012 | Lindsey Bewley
Escalating tensions in the Mideast and continued signs of economic recovery in North America combined to drive petrochemical prices higher. Spot naphtha in northwest Europe rose a sharp $50/m.t. but olefins producers were unconcerned as they scored major increases in Feburary contract settlements. Ethylene was agreed higher by €99/m.t. while propylene was settled up by €90/m.t. The big gainer was butadiene, which was agreed at an increase of €235/m.t. Spot butadene rocketed higher by $400/m.t. while spot ethylene and propylene saw gains...
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