Steam cracker utilization rates in Europe improved in January amid increasing margins. Run rates are currently pegged at 80-85%, compared with 75% in December, as per sources in Platts. Spot and contract margins were assessed at Eur 212/mt (US$290) and Eur 485/mt on Friday, compared with December's average of Eur 90/mt and Eur 367/mt respectively.
Cracker rates improved amid falling price of feedstock naphtha, prompting ethylene and propylene buyers to restock. Naphtha was assessed at US$923.75/mt CIF NWE Friday, compared with US$948.50/mt CIF NWE on December 31. Meanwhile, spot propylene and ethylene prices closed Friday at Eur 1130/mt FD NWE and Eur 1007.50/mt, a nine-month and two-month high respectively.
14-Jan-14 
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