Hamburg, (Germany): The US and European olefins market stuttered under a weaker sentiment, unable to maintain the gains achieved over the past few weeks. Indeed, initial hike attempts failed to pass on Ethylene deals amidst subdued demand and lower costs. Overall demand fundamentals have been weak with market sentiment not rallying along the expected lines. With advance purchases already concluded in early September and with turnarounds at crackers and refineries, many assumed price levels had hit the floor. Spot activity remained mostly subdued, as buyers opted for purchases that met their immediate needs.
After experiencing the bullish rally in the prior weeks, Ethylene spot prices have inched lower in the German market during the last week of September xxxx amid a generally bearish market sentiment. The feedstock Naphtha prices have decreased which eased the overall production cost of Ethylene which weighed down the prices of Ethylene in...
