Initial Europe June ethylene contract agreed down by €120/tonne

25 May 2012 14:50  [Source: ICIS news]

LONDON (ICIS)--An initial European ethylene contract settlement for June has been agreed at €1,205/tonne ($1,506/tonne), down by €120/tonne from May, to reflect soft demand and supply fundamentals and a weak feedstock market, a major producer said on Friday.

The contract, which is agreed on a free delivered (FD) northwest Europe (NWE), was between the major producer and six of its customers.

A second producer has also confirmed the settlement.

Confirmation has been received directly from two customers, but is still pending from four customers and a third producer.

($1 = €0.80)

By: Nel Weddle
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly