Olefins in Europe Mostly Lower

Spot naphtha in northwest Europe was lower by $15/m.t. but feedstock costs were of little concern to steam-cracker operators as they watched buying interest evaporate for ethylene and propylene. Ethylene prices were notional but level; chemical-grade propylene plunged €310/m.t. and polymer-grade tumbled $170/m.t. as polymer producers stayed on the sidelines. The August ethylene contract was settled at an increase of €25/m.t. while propylene was agreed at a token decrease of €15/m.t...

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