UpdateInitial August propylene contract price agreed at €1,090/tonne
29 July 2013 14:50 [Source: ICIS news]
(updates with additional detail in first paragraph, confirmation from second supplier)
LONDON (ICIS)--An initial European August propylene contract price has been agreed at €1,090/tonne ($1,453/tonne), up by €50/tonne from July primarily to reflect the firmer upstream market, a major consumer said on Monday.
Supply and demand fundamentals were seen as being stable moving into August.
The contract, which is agreed on a free delivered (FD) northwest Europe (NWE) basis, was between the major consumer and a major supplier.
Confirmation from the supplier is pending but a second supplier has confirmed the agreement.
($1 = €0.75)By: Nel Weddle+44 20 8652 3214
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