27 April 2012 10:39 [Source: ICIS news]
LONDON (ICIS)--The European ethylene contract price for May has been agreed at €1,325/tonne ($1,743/tonne), down by €20/tonne from April to reflect soft demand but bearing in mind upstream volatility, a major consumer said on Friday.
The initial contract, agreed on a free delivered (FD) northwest Europe (NWE) basis, was between the major consumer, a key polyvinyl chloride (PVC) producer, and four of its suppliers. Confirmation from two of the suppliers is pending.
A second agreement between an integrated consumer and a fifth producer is also confirmed.
($1 = €0.76)
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