31 July 2013 11:07 [Source: ICIS news]
LONDON (ICIS)--A second European August ethylene contract price settlement has been agreed at €1,210/tonne ($1,613/tonne), a major producer and consumer said on Wednesday.
The €40/tonne increase was driven primarily by firmer upstream naphtha costs over July compared with the previous month.
The settlement at €1,210/tonne has now been confirmed by two major consumers and producers and is now considered fully established as the benchmark reference price.
The contract was agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.75)
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