COMMENTARY

North American spot naphtha fell to 213-214 cts/gal, while European spot slid back $20/m.t. North American ethylene contracts settled up 4 cts/lb in November, the ninth consecutive monthly contract increase. Nominations of 5 cts-6 cts/lb are being heard for December contracts. Lower feedstock costs took another $10/m.t. off the price of spot European ethylene. Cracker operations are quiet in Europe after many weeks of scattered problems. Other commodity olefins held steady because of downstream strength and also lingering distribution troubles, traders say...

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