COMMENTARY

U.S. spot ethylene prices gained another 1 cts/lb last week on recent price spikes for ethane and continued poor margins for heavy-feed crackers, market sources say. Propylene contracts settled at an increase of 6 cts/lb on tighter supply and cost pressure. Spot chemical-grade and polymer-grade propylene prices each gained 5 cts/lb, sources say. Downstream, LyondellBasell says it is suspending spot polypropylene (PP) transactions after “severe” production problems at its Bayport, Texas and Lake Charles, LA sites. European spot naphtha rose $20/m.t....

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