26 April 2013 11:23 [Source: ICIS news]
LONDON (ICIS)--An initial European propylene contract price for May has been agreed down by €80/tonne ($104/tonne) at €1,025/tonne, a major consumer said on Friday.
A decrease was widely expected given the softer upstream conditions through April, and weak derivative demand. The fully confirmed contract, which is settled on a free delivered (FD) northwest European (NWE) basis, was between the major consumer and a major producer. A third producer has also agreed but this is not yet confirmed.
($1 = €0.77)
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