26 April 2013 12:16 [Source: ICIS news]
LONDON (ICIS)--A second European propylene contract price settlement for May has been agreed down by €80/tonne ($104/tonne) at €1,025/tonne, a major consumer said on Friday.
The contract, which is settled on a free delivered (FD) northwest European (NWE) basis, was between the major consumer and a major producer.
Confirmation from the producer is outstanding but once obtained, the May contract price benchmark will be regarded as fully established.
A decrease was widely expected given the softer upstream costs through April and an ongoing weak environment from a demand perspective.
($1 = €0.77)
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