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Focus Europe May ethylene, propylene hikes in line with expectations

LONDON (ICIS)--Recent hikes in the European ethylene and propylene contract prices for May have been deemed largely appropriate by players on both sides of the fence given current supply and demand conditions, market sources said on Friday.

Ethylene rose by €80/tonne to settle at €1,045/tonne while propylene moved up €75/tonne to settle at €990/tonne.

Most consumers have taken a pragmatic approach.

“Plus €80/tonne is OK if taking into account the tightness,” a consumer said, “but once things lengthen out, I would hope, and expect, numbers to soften.

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