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Business in general is sparse, with prices dipping or remaining static. The exception is MTBE, which is experiencing high demand, and mixed xylene, which is tight in Europe
Naphtha prices have fallen to $410-420/ tonne cif NWE, on the back of lower crude oil future numbers, which dipped below $50/bbl. Earlier in the week naphtha prices had shifted up to $445/tonne cif NWE. Supplies are said to be plentiful.
Ethylene spot prices remain unchanged at $850-890/tonne cif NWE, in a very notional market. Once again, no new deepsea deals have been reported. Players talk of lower price sentiment, with a number of spot offers from the ARG pipeline in the market at well below contract price levels. There is growing speculation of European cracker operators trimming back rates unless derivative markets recover in the coming weeks.
Propylene prices have dipped to euro680-700/tonne cif NWE. A number of bulk polymer grade parcels have been sold within the...