NewsFlash1st Europe Q3 ethylene up €190/t
02 July 2008 13:33 [Source: ICIS news]
LONDON (ICIS news)--The first third-quarter European ethylene (C2) contract was agreed up a record €190/tonne ($302/tonne) at €1,228/tonne, market sources said on Wednesday.
The deal, done on a free delivered (FD) northwest Europe (NWE) basis, was between a German consumer and a key merchant seller of ethylene.
The significant rise on the contract was attributed to tremendous pressure from high upstream costs, which had led to negative cracker margins.
($1 = €0.63)
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By: Nel Weddle
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