COMMENTARY

U.S. spot olefins prices strengthened with expectation of tightening supply from maintenance shutdowns. Ethylene spot cargoes rose 2 cts-3 cts/lb, and spot propylene gained about half a penny, market players say. Ethylene contracts have settled at a 2-cts/lb reduction, to 39.5 cts/lb del. Propylene contracts are likely to increase by at least 2 cts/lb for January, sources say. Meanwhile, butadiene contracts rolled over at 53 cts/lb del for February despite tight supply, and Equistar’s force majeure declaration at its Channelview, TX plant. European spot...

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