26 June 2013 17:34 [Source: ICIS news]
LONDON (ICIS)--The European propylene (PP) contract price (CP) for July has been agreed at a rollover €1,040/tonne ($1,368/tonne) because of largely stable feedstock and supply demand fundamentals, market sources said on Wednesday.
So far, three consumers - two non-integrated and one integrated - have confirmed agreements at a rollover with four major propylene suppliers. Confirmation from all but one has been received.
One of the consumers said “average feedstock costs are basically unchanged”, and added that while downstream demand was looking a little stronger, cracker maintenance would soon be complete and this should mean ample supply in July.
Market observers said the rollover settlement was not a surprise.
Ethylene and butadiene (BD) July contract price discussions are ongoing.
($ 1= €0.76)
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