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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|