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Spot Olefins Mostly Down in Both Europe and the U.S.
10:01 AM MDT | June 15, 2011 | Lindsey Bewley
Major petrochemical markets were described as uneven and without direction this week on both sides of the Atlantic. In the U.S., spot ethylene was lower by about 5 cts/lb, while both grades of propylene shed about 2 cts/lb. Butadiene, however, continued to climb, reaching a new average spot high of about $2.05/lb, players say. Among North American feedstocks, ethane gained about 2 cts/gal, propane added 4 cts/gal, and butane was higher by about 5 cts/gal. Naphtha, meanwhile, was unmoved, remaining in the mid-$2.00/gal range. In Europe, spot olefins were lower but...
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