Olefins Prices Continue to Decline

Olefins prices in North America were down this week. Ethylene contracts for the month of September settled at a loss of 1 ct/lb, to 54.5 cts/lb, market sources say. Meanwhile, spot ethylene prices continued to ease, losing about 2 cts/lb. Propylene contracts for October also declined, shedding 14 cts/lb. This brings PGP to 64 cts/lb and CGP to 62.5 cts/lb. Inventory build-ups and falling spot prices contributed to the decline, sources say. Spot butadiene was down about a penny, to 124 cts-126 cts/lb. Spot naphtha in northwest Europe led the way lower...

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