Immingham (UK)- With the UK鈥檚 Labour government arriving on the scene, INEOS officials as well as operational creditors had bullish sentiment regarding the LAO market for NW Europe as talks of reviving INEOS Grangemouth refinery being back on the table.听 Linear Alpha Olefins (LAO) produced through ethylene are one of the major products of Grangemouth INEOS operations which have been affected due to rising costs and weak demand. In the last month of Qx xxxx, the prices of LAO at Immingham port on Free Delivery basis were observed at USD xxxx/MT.
LAO prices in the UK, as well as Northwest Europe, currently have largely been guided by two trends- US FOB Gulf deliveries and FD Rotterdam outbound deliveries. Financial guidance of Shell鈥檚 operations in the Netherlands shows that LAO markets have largely remained bearish in Europe since April xxxx largely owing to weakness in ethylene...
