15 April 2013 09:55 [Source: ICIS news]
The settlement was confirmed by several other sources this morning.
One buyer involved in the negotiation process said that it had been holding out for a settlement closer to €1,400/tonne in April, but the barge contract agreement done earlier in the month at €1,411/tonne on a free on board (FOB) Amsterdam Rotterdam Antwerp (ARA) basis made this increasingly difficult.
The buyer added that it would look to recover margin next month, and expects that ethylene will come off significantly again in May.
The contract was agreed on a free carrier (FCA) Rotterdam basis.
($1 = €0.76)
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