The European spot ethylene price resisted a plunge in the Northwest European price of feedstock naphtha Friday to a 20-month low as cracker operators cut production rates, as per Platts. At the European close Friday, spot ethylene prices were assessed at €895-900/mt FD NWE, up €40 on the week, marking the first rise since early April, Platts data show.
Ethylene values rose as European cracker operating rates dropped to 70-75% amid lackluster buying, which cleared excess ethylene supply, industry sources said.
CIF NWE naphtha price was printed at US$733.75/mt on Friday's close, down US$20.25 on the day, the lowest level since September 30, 2011, Platts data show.
13-Jun-12 
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