Second, third Europe Jan ethylene settlements agreed at €1,240/t

20 December 2013 15:27  [Source: ICIS news]

LONDON (ICIS)--Two more ethylene producers and three more ethylene consumers on Friday have followed the initial January contract price settlement of €1,240/tonne ($1,699/tonne), a rise of €15/tonne from December.

Confirmation for the contract, which is agreed on a free delivered (FD) northwest Europe (NWE) basis, has been received directly from three major producers and four major consumers, only one of which is non-integrated.

Some sources said that the €15/tonne increase was a reasonable level, a good compromise between some buying ideas of a rollover to plus €10/tonne and selling ideas around plus €20-30/tonne. There were also higher pricing indications from other producers.

($1 = €0.73)

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By: Nel Weddle
+44 20 8652 3214

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