28 November 2012 16:39 [Source: ICIS news]
LONDON (ICIS)--An initial European propylene contract settlement for December has been agreed at €1,103/tonne ($1,432/tonne), down by €17/tonne from November, reflecting soft market conditions, a major integrated buyer said on Wednesday.
The contract was agreed by the buyer and two of its suppliers and all have directly confirmed. Confirmation from a second consumer is pending.
One of the suppliers said: “It’s a good compromise – we were stuck between [minus] €15 and €20”.
The contract is agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.77)
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