27 February 2012 15:43 [Source: ICIS news]
LONDON (ICIS)--An initial European ethylene March contract settlement has been agreed at a record €1,305/tonne ($1,764/tonne), up by €86/tonne from February on the back of firm upstream costs, a major non-integrated consumer said on Monday.
The contract, which is agreed on a free delivered (FD) northwest Europe (NWE) basis, was between the major consumer and one of its suppliers, a major merchant ethylene seller. Confirmation from the seller is still pending.
($1 = €0.74)
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