Europe December EO prices down €12/tonne on lower ethylene

09 December 2011 23:59  [Source: ICIS news]

LONDON (ICIS)--European ethylene oxide (EO) contract prices for December were assessed down by €12/tonne by ICIS on Friday, based on the fall in the December ethylene contract.

Market sources said that formula-linked EO contract prices had decreased by around €12/tonne ($16/tonne), representing 80% of the €15/tonne fall in the monthly ethylene price.

Most freely negotiated EO contracts declined by a similar amount, market participants added.

December EO contract prices were assessed at €1,200-1,367/tonne FD (free delivered) NWE (northwest Europe) and €1,240-1,397/tonne FD MED (Mediterranean).

Seasonal destocking is under way, as is usual for December, although sources are divided on whether market activity will return to normal in January, given weak demand in some derivative markets and widespread economic uncertainty.

European EO producers include INEOS Oxide, BASF, Shell, Clariant, Sasol, Dow, IQA, PKN and AkzoNobel.

($1 = €0.75)

For more on EO visit ICIS chemical intelligence.

By: Samuel Weatherlake
+44 20 8652 3214

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