27 July 2010 11:35 [Source: ICIS news]
LONDON (ICIS news)--An initial European August ethylene (C2) contract has been agreed down €18 ($23) at €940/tonne, while propylene (C3) simultaneously settled €38 lower at €940/tonne, a major olefins producer said on Tuesday.
The contracts, settled on a free delivered (FD) northwest Europe (NWE) basis, put ethylene and propylene at parity.
The agreements, which were fully confirmed, were between the producer and one of its customers, a major non-integrated consumer.($1 = €0.77)
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