COMMENTARY

Sliding feedstock costs and softening demand continue to chip away at U.S. spot ethylene prices, which lost 3 cts/lb despite production losses due to Hurricane Gustav in the Gulf Coast. The August ethylene contract was not settled by CW presstime, but decreases are expected, sources say. Butadiene remains tight in the U.S. due to shutdowns before Gustav, and some suppliers have tightened allocations, sources say. Spot naphtha in northwest Europe dropped $10/m.t. and spot olefin prices were flat. Butadiene was the exception. The spot price remained high, but it...

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