21 September 2007 23:59 [Source: ICIS news]
LONDON (ICIS news)--European ethylene oxide (EO) contracts for September were settled between a rollover and an increase of €30/tonne ($42/tonne), buyers and sellers said on Friday.
With the majority of settlements agreed at a rollover and only two accounts reported increases above €10/tonne, prices were assessed higher at €1,369-1,462/tonne FD (free delivered) NWE (northwest Europe) and €1,444-1,492/tonne FD MED (Mediterranean).
Producers were able to secure increases on freely negotiated accounts despite the fact that prices had already moved in line with upstream costs earlier in the quarter, due to tight market conditions amid a heavy turnaround schedule.
Logistics remained stretched amid an active swap market. Despite a handful of delayed deliveries, consumers said their production had not been affected.($1.00 = €0.71)
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