COMMENTARY

Petrochemical spot prices declined on both sides of the Atlantic as crude oil and steam cracker feedstocks held steady. Speculative activity has gone from the market, and at present buyers say they are confident of available volumes through the summer. Downstream demand remains strong for most products, and sellers continue to nominate increases for contract prices. Traders say that it is too early to tell if the recent sell-off is due to the lack of speculative buying, or if there is a stronger downdraft. U.S. spot olefins were lower by a little more than a...

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