Initial Europe Feb C3 MCP settles up €25/tonne

27 January 2009 16:07  [Source: ICIS news]

LONDON (ICIS news)--An initial settlement for February propylene (C3) has been agreed at €455/tonne ($599/tonne), up €25/tonne from January, a key contract buyer said on Tuesday.

The contract, which is settled on a free delivered (FD) northwest Europe (NWE) basis, was between a key olefins producer and a large integrated consumer. Confirmation from the producer was pending at the time of writing.

Propylene was settled for January at €430/tonne, down €523/tonne.

Given recent feedstock naphtha increases and slightly improved demand compared with December, February contracts were widely expected to see increases.

($1 = €0.76)

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By: Nel Weddle
+44 20 8652 3214

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