27 March 2013 15:18 [Source: ICIS news]
LONDON (ICIS)--The initial European propylene contract price for April has been agreed down by €50/tonne at €1,105/tonne, ($1,417/tonne), as confirmed by a main producer on Wednesday.
The initial settlement had been made with one consumer and was agreed on a free delivered (FD) northwest Europe (NWE) basis.
Other settlements were not heard at the time of writing.
The decrease in the contract price was due to the relief in feedstock costs over the last month.
There was less of a price reduction for propylene than for ethylene as the propylene market was not as soft.
($1 = € 0.78)
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