28 November 2012 11:33 [Source: ICIS news]
LONDON (ICIS)--An initial European ethylene contract settlement for December has been agreed at €1,275/tonne ($1,656/tonne), a rollover from November, on the back of stable upstream conditions and steady demand, a producer and a consumer said on Wednesday.
A two-plus-two producer consumer configuration is required before the new contract price is fully established as the European benchmark. Only one other consumer has confirmed it will follow at this stage.
The contract is agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.77)
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