Antwerp (Belgium): Linear Alpha Olefin (LAO) prices turned bullish in January after inventory pressure eased, coupled with improved consumer sentiments following Christmas retailing worldwide showing signs of rising private consumption. Globally, feedstock ethylene prices deflated owing to strong US crude and gas production, coupled with slower Chinese polyethylene and other petrochemical demand, resulting in lower material costs for major LAO suppliers. European markets observed a strong rise in prices as temperatures fell in Northern Europe, restricting supply due to paralyzed Riverine logistics. On the other hand, North American markets observed a marginal fall in prices amidst oversupply, despite recovering demand as plants like ExxonMobil remained online, oversupplying the market. LAO prices elevated globally due to supply disruptions in the Red Sea and increased safety stocking up.
In European markets, prices remained elevated with buyers receiving orders around $xxxx/mt FD Antwerp. Supply to European markets remained largely imported,...
