European
Propylene: Illiquid market conditions continue, Nov MCP settles-  Deferred
contract settlement limits activity-  Tightening
supply ongoing despite weak demandIn
the week leading up to Nov. 4, weak demand continued to weigh on Europe's
propylene market. Pricing was illiquid due to delayed settlements of contract
prices and uncertainty market sentiment. November industry settled
propylene settlement price was Eur1,200/mt Nov. 3. This is an increase of
Eur20/mt from October levels. Due to European bank holidays and divergence
between buyer and seller attitude towards negotiations, the settlement was
delayed. While some saw price increases as unsustainable because of
consistent weak derivative demand; others saw pricing increases as necessary
due to pricing increases for key feedstock naphtha. Sources indicated that
the delay in settlement caused limited transactional activity at beginning of
the month, with players seeking clarity....