Spot propylene prices tumble in Europe on ample supply
According to weekly average prices on ChemOrbis Price Wizard, the current spot prices represent the lowest levels seen since late May, 2009. Meanwhile, the current levels slumped approximately €280/ton compared with their initial September levels.
In Europe, oversupply issues remain in the spot propylene market due to the arrival of import cargoes, according to traders in the region. In addition, Naphthachemie’s full rates at its steam cracker and the arrival of imports weighed down the market, even though major producers, including Dow, Borealis, LyondellBasell and Ineos, have either started or are preparing to start planned maintenance shutdowns.
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