27 March 2013 15:01 [Source: ICIS news]
LONDON (ICIS)--The European ethylene contract price for April has fully settled down by €60/tonne at €1,265/tonne, ($1,622/tonne), as confirmed by two producers and two buyers on Wednesday.
The first settlement was between one main producer and three separate buyers. Confirmation has so far been received from two of the customers.
The second settlement was between one of the customers involved in the first settlement and three sellers. Confirmation has so far been received from two of the sellers.
The drop in the ethylene contract price in April was driven by feedstock relief over the last month and a soft market
The contract was agreed on a free delivered (FD) northwest Europe (NWE) basis
($1 = €0.78)
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