Second May Europe propylene contract agreed down €80/tonne

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)

By: Nel Weddle
+44 20 8652 3214

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