20 February 2009 10:05 [Source: ICIS news]
LONDON (ICIS news)--An initial European ethylene (C2) contract for March has been agreed at €675/tonne ($854/tonne), up €85/tonne from February, a key contract seller said on Friday.
The settlement, which was agreed on a free delivered (FD) northwest Europe (NWE) basis, was between a key Germany-based producer and one of its customers, a non-integrated ethylene consumer.
The February ethylene contract settled at €590/tonne FD NWE.
($1 = €0.79)
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