Olefins Contracts Settle at a Loss on Both Sides of the Atlantic

The November butadiene contract in North America settled at a decrease of 25 cts/lb, to $1.15/lb, pushed lower by softening demand. All four major producers agreed on the price, the first time the market has reached a market-wide agreement since split settlements became common earlier this year. On the spot side, prices edged lower by about 3 cts/lb. Propylene contracts, meanwhile, are poised to settled lower by about 4-10 cts/lb, putting PGP at about 54 cts-60 cts/lb and CGP at about 52.5 cts- 58 cts/lb. Spot ethylene was stable at about 48 cts/lb. Among North...

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