Europe top stories - weekly summary

16 July 2012 09:00  [Source: ICIS news]

LONDON (ICIS)--Here are some of the top stories from ICIS Europe for the week ended 6 July 2012.

Europe cracker margins down 60% on lower July CPs, firmer naphtha
European contract cracker margins have been slashed by 60% as naphtha feedstock prices have firmed in the aftermath of the significant €170/tonne ($207/tonne) reduction in the July ethylene contract price, according to ICIS analysis on Monday.

Initial Europe July MEG settles down €40/tonne at €885/tonne
An initial European monoethylene glycol (MEG) July contract has been agreed down by €40/tonne at €885/tonne ($1,093/tonne), the buyer and seller involved said on Tuesday.

Europe July benzene values spike on US prices, domestic tightness
Ongoing tightness for July, gains on crude futures, as well as firmer prices in the US, have all helped put more upward pressure on the European benzene market, sources said on Wednesday.

Europe PE, PP July price discussions tough in changing market
European July polyethylene (PE) and polypropylene (PP) pricing talks are challenging and mixed following a sharp turn in the trend of the market last week that had some sellers backtracking and left short of material, several sources agreed on Thursday.

Europe spot acetone prices stabilise, market balances out
European acetone spot prices have stabilised as the market reaches a balanced position following cutbacks in phenol production, market sources said on Friday.

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By: Staff Reporter
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