25 May 2010 15:42 [Source: ICIS news]
LONDON (ICIS news)—Initial settlements for June European propylene (C3) contracts have been agreed at a rollover of €1,000/tonne ($1,234/tonne), a major integrated consumer said on Tuesday.
“With the weak condition of raw materials, I do believe that a rollover was the best compromise,” one of the counterparties commented.
The contract, settled on a free delivered (FD) northwest Europe (NWE) basis, was between the consumer and three of its suppliers.
Two of the suppliers confirmed the settlement, while the third would not confirm in line with its company policy.
Propylene in ?xml:namespace>
Meanwhile, an initial European ethylene (C2) contract for June was agreed at €970/tonne ($1,197/tonne), a major olefins producer said.
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|
Asian Chemical Connections