29 May 2013 17:38 [Source: ICIS news]
LONDON (ICIS)--An initial European propylene contract for June has been agreed up by €15/tonne at €1,040/tonne ($1,333/tonne), a major producer said on Wednesday.
The initial settlement was reached with a pure consumer on a free delivered (FD) northwest Europe (NWE) basis
The small increase reflects the recent gains on naphtha and the fact that demand is forecast to be reasonable in June.
Earlier on Wednesday, two major producers confirmed an initial ethylene settlement, up by €5/tonne at €1,170/tonne. Confirmation is pending from a second major consumer.
Nel Weddle contributed to this article
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