October Europe EO up €18/tonne in line with C2

19 October 2007 23:59  [Source: ICIS news]

LONDON (ICIS news)--October contract prices for European ethylene oxide (EO) were settled at an increase of €18/tonne ($26/tonne) in line with higher ethylene costs, buyers and sellers said on Friday.

October prices were assessed at €1,387-1,480/tonne FD (free delivered) NWE (northwest Europe) and €1,462-1,510/tonne FD MED (Mediterranean), according to global chemical market intelligence service ICIS pricing.

Sellers had initially targeted increases above the ethylene pass through costs, in the range of €20-30/tonne, citing competition for material from the monoethylene glycol sector.

One producer reported partial success in securing additional increases, but the additional premiums were not deemed representative of most business.

($1 = €0.70)

Dan Horlock contributed to this article

By: Shelley Kerr
+44 20 8652 3214

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