Second seller follows Europe Dec propylene CP at €995/tonne

30 November 2011 09:01  [Source: ICIS news]

LONDON (ICIS)--A second major seller has followed 29 November's initial European propylene contract price settlement of €995/tonne ($1,327/tonne) for December, it said on Wednesday.

The settlement, which reflects a decrease of €18/tonne from the November contract price, was between the major seller and one of its customers, a major non-integrated consumer.

Confirmation from the buying side is still pending.

The initial settlement emerged on Tuesday between a major producer and two other major non-integrated consumers.

Once full and direct confirmation is received, the minimum “two plus two” producer-consumer combination required to establish the number as the European benchmark will have been achieved.

The contract is settled on a free delivered (FD) northwest European (NWE) basis.

($1 = €0.75)

By: Nel Weddle
+44 20 8652 3214

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