27 June 2013 10:00 [Source: ICIS news]
LONDON (ICIS)--An initial European July ethylene contract price has been agreed at a rollover €1,170/tonne ($1,519/tonne), largely because of stable feedstock and supply and demand fundamentals, a major consumer said on Thursday.
The fully confirmed contract, which is agreed on a free delivered (FD) northwest European (NWE) basis, was between the major consumer and a major supplier.
A second major consumer has followed the agreement with the same major producer.
The July propylene contract price settled at a rollover €1,040/tonne FD NWE on Wednesday for similar reasons.
($1 = €0.77)
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