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US petchem values take cue from plunging stocks

By Stephen Burns

HOUSTON (ICIS news)--US petrochemical markets were in free-fall on Friday as the meltdown in global financial markets  painted a bleak outlook for downstream demand and wiped away standard ideas of value relationships, market sources said.

"There is no bottom in sight," an ethylene producer said.

In addition to turmoil in financial markets - and its impact on the upstream energy complex - US ethylene is also under pressure due to oversupply and weak demand, another market source said.

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