Spot ethylene prices soar 46% amid reduced supply in Europe
Borealis reportedly declared a force majeure on output from its Stenungsund cracker after a fire broke out. This put an upward pressure on ethylene prices as the cracker has an ethylene production capacity of 625,000 tons/year.
Following the news, spot ethylene prices jumped by around €130/ton to be reported at €410/ton FD NWE at the end of last week. According to ChemOrbis Price Wizard, spot ethylene prices seem to be back to their mid-April levels following the drastic jump.
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