01 August 2013 10:38 [Source: ICIS news]
The European August ethylene contract price settled up at €1,210/tonne ($1,613/tonne) FD (free delivered) NWE (northwest Europe) on the back of higher upstream costs, and one source believes this will lead to lower production of synthetic ethanol.
“The volumes produced by synthetic producers will decrease because of the ethylene increase. Otherwise, every tonne or volume would be sold at a loss,” the source said.
Another source said: “It would be tricky to increase prices in the current market conditions.”
($1 = €0.75)
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