NewsFlashCorrected: Initial Europe June ethylene falls €45/tonne to €1,185/tonne

24 May 2011 13:24  [Source: ICIS news]

Correction: In the ICIS story headlined “Initial Europe June ethylene falls €45/tonne to €1,185/tonne” dated 24 May 2011, please read in the first paragraph … a major producer said … instead of … a major consumer said …. A corrected story follows.

LONDON (ICIS)--Three initial European ethylene (C2) contract price settlements for June have been agreed at €1,185/tonne ($1,669/tonne), a major producer said on Tuesday.

The settlement marked a €45/tonne decrease from the May contract price and snapped the seven-month run of rising prices.

The contract settles on a free delivered (FD) northwest Europe (NWE) basis.

Confirmation from the three consumers involved in the agreements is still pending.

($1 = €0.71)

By: Nel Weddle
+44 20 8652 3214

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