02 September 2013 15:12 [Source: ICIS news]
LONDON (ICIS)--An initial European September propylene contract settlement has been agreed at €1,150/tonne ($1,513/tonne), up by €60/tonne from the previous month, an integrated consumer said on Monday.
The buyer said it had settled with two sellers and confirmation was received from both of them.
The price increase was driven by higher upstream costs and margin recovery.
The contract is agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.76)
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