Europe October ethylene confirmed at rollover €1,115/tonne

28 September 2011 12:30  [Source: ICIS news]

Europe October ethylene rolls overLONDON (ICIS)--The European ethylene October contract price has settled at a rollover €1,115/tonne ($1,527/tonne) as the need to restore cracker margins was offset by soft demand downstream, particularly in the derivative polyethylene (PE) market, industry sources said on Wednesday.

Two major olefins producers and two key consumers, one non-integrated and the other integrated, have now confirmed the settlement.

One of the consumers described it as a “fair compromise”.

Confirmation from two other consumers is still pending.

October contract discussions for propylene are ongoing. The September contract settled at €1,078/tonne.

The contracts are agreed on a free delivered (FD) northwest Europe (NWE) basis.

($1 = €0.73)

For more on ethylene visit ICIS chemical intelligence

By: Nel Weddle
+44 20 8652 3214

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