COMMENTARY

Feedstock costs were higher with ethane and propane prices rising in the past week. U.S. spot ethylene climbed slightly last week, up 1.5 cts, to 45.25 cts/lb. Spot prices have nearly closed the discount to contract prices, which settled at 46 cts/lb in June. Ethylene markets are balanced in the U.S. and tight in Europe, sources say. Spot refinery grade propylene prices were reported slightly lower, with bids reported at 49 cts/lb, sources say. BASF’s steamcracker at Ludwigshafen is now operating normally, and the company is no longer operating under force...

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