UpdateSecond settlement for Europe Feb C3 MCP at €455/tonne

27 January 2009 16:33  [Source: ICIS news]

(Updates throughout) 

LONDON (ICIS news)--A second key buyer and seller have followed the initial February propylene settlement at €455/tonne ($599/tonne), the key seller said on Tuesday.

The settlement, agreed on a free delivered (FD) northwest Europe (NWE) basis, marks a €25/tonne increase over January.

Confirmation has so far been received from two key sellers and one major buyer.

January propylene settled at €430/tonne FD NWE, down €523/tonne from the fourth quarter value.

Contracts were widely expected to see increases due to recent feedstock naphtha increases and slightly improved demand.

($1 = €0.76)

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By: Nel Weddle
+44 20 8652 3214

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