London (Platts)--29Nov2012/628 am EST/1128 GMT
The NWE December ethylene contract price fully settled Wednesday at Eur1,275/mt FD, a rollover from November, industry sources said Thursday. The initial settlement was Wednesday between sellers LyondellBasell and BASF with customer Clariant, all parties confirmed Wednesday. This was followed by customer Vinnolit with its producer LyondellBasell on Wednesday, industry sources said Thursday. Neither party was immediately available to confirm. The rollover came despite a decrease in the feedstock costs and a low demand environment as the olefin industry struggled with thin margins, sources said. Naphtha has averaged $929/mt CIF NWE this month to date, down $25/mt from October's average. Article continues below...Sign up to Petrochemical Alert today. Petrochemical Alert gives you everything you need to stay informed and react to changing market conditions, including minute-to-minute updates on news and pricing for all your petrochemical needs. From news flashes to long-range analysis, and real-time deal reporting to end-of-day price assessments, Petrochemical Alert is consistently first to deliver breaking news that moves the world's petrochemicals markets. It's an indispensable tool for those making crucial decisions.
The NWE December ethylene contract price fully settled Wednesday at Eur1,275/mt FD, a rollover from November, industry sources said Thursday. The initial settlement was Wednesday between sellers LyondellBasell and BASF with customer Clariant, all parties confirmed Wednesday. This was followed by customer Vinnolit with its producer LyondellBasell on Wednesday, industry sources said Thursday. Neither party was immediately available to confirm. The rollover came despite a decrease in the feedstock costs and a low demand environment as the olefin industry struggled with thin margins, sources said. Naphtha has averaged $929/mt CIF NWE this month to date, down $25/mt from October's average.
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Petrochemical Alert gives you everything you need to stay informed and react to changing market conditions, including minute-to-minute updates on news and pricing for all your petrochemical needs. From news flashes to long-range analysis, and real-time deal reporting to end-of-day price assessments, Petrochemical Alert is consistently first to deliver breaking news that moves the world's petrochemicals markets. It's an indispensable tool for those making crucial decisions.
Spot cracker margins were in negative territory again this month assessed at minus Eur94/mt while contract margins were a positive Eur107/mt for November to date. This compares with October's average of minus Eur50/mt and plus Eur117/mt respectively. --Nandita Lal, nandita_lal@platts.com--Edited by Maurice Geller, maurice_geller@platts.com
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