Olefins Prices on the Rise in the U.S. and Europe

Petrochemical prices were generally strong at mid month, players say. Spot ethylene rose about 3 cts/lb, to 63 cts/lb, while both grades of propylene were higher by about 2 cts/lb. Spot butadiene gained about 3 cts/lb. Meanwhile, contracts were settled for both propylene and butadiene. Propylene gained 5 cts/lb for March, bringing PGP to 77.5 cts/lb and CGP to 76 cts/lb. Butadiene had another split settlement, taking contracts to $1.55/lb and $1.45/lb. Spot naphtha continues to rise in northwest Europe, adding $25/m.t. Spot olefins also rose in the same order of...

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