27 April 2011 12:11 [Source: ICIS news]
LONDON (ICIS)--Initial European May ethylene (C2) and propylene (C3) contract price settlements have been agreed at €1,230/tonne ($1,809/tonne) and €1,245/tonne respectively, a major consumer said on Wednesday.
The ethylene settlement marked a €25/tonne increase while propylene gained €35/tonne. Both settled on a free delivered (FD) northwest Europe (NWE) basis and are within market expectations. Confirmation from the producer involved in the agreements is still pending.
($1 = €0.68)
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