Europe Oct ethylene confirmed down €35/t at €1,225/tonne

LONDON (ICIS)–The European ethylene contract price for October has been fully confirmed at €1,225/tonne ($1,655/tonne), down by €35/tonne because of weaker feedstock, market sources said on Friday.

The contract which is agreed on a free delivered (FD) northwest Europe (NWE) basis, was confirmed by two consumers – both non-integrated – and three suppliers.

Confirmation from a third, integrated consumer is pending.

Some ethylene consumers are likely to be disappointed by the settlement having targeted deeper decreases.

“Looking at the feedstock, there was room for minus €60/tonne,” a fourth consumer said.

($1 = €0.74)