Europe September ethylene settlement receives further support

27 August 2010 13:35  [Source: ICIS news]

European ethylene prices riseLONDON (ICIS)--The initial European September ethylene (C2) contract, which was agreed on Friday at an increase of €10/tonne ($13/tonne) from August at €950/tonne, has so far received support from two main suppliers and two net consumers.

The higher settlement was mainly driven by short supply, resulting from robust derivative demand, as well as recent and forthcoming plant outages, said sources.

Upstream naphtha costs had moved up slightly over the past few days and had ruled out a rollover, said one manufacturer, as had the firmer price trend in olefin values in other regions.

One net consumer said it was reluctant to see increases, but conceded that higher upstream costs over the past week had strengthened the sellers’ argument. This was in combination with pressure in the spot market and short supply, added the consumer.

($1 = €0.79)

For more on ethylene visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Heidi Finch
+44 20 8652 3214



AddThis Social Bookmark Button

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.

Printer Friendly