Initial Europe September ethylene agreed up €10/t at €950/t

27 August 2010 11:24  [Source: ICIS news]

LONDON (ICIS news)--An initial European September ethylene (C2) contract has been agreed up by €10/tonne ($13/tonne) from August at €950/tonne, said a net olefins consumer on Friday.

The settlement was on a free delivered (FD) northwest Europe (NWE) basis and was thought to be with a net producer.

Official confirmation, however, was still pending from that producer. No settlements were heard from other players.

The higher contract price was due to short supply, pressure in the spot market and firmer upstream costs over the past few days, which had affected cracker margins, said sources.

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By: Heidi Finch
+44 20 8652 3214

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