Europe August EO contract prices fall with upstream ethylene
Caroline Murray
27-Jul-2016
LONDON (ICIS)–Europe ethylene oxide (EO) August formula
contracts decreased on Wednesday by €16/tonne from July,
following a confirmed upstream ethylene contract settlement,
according to ICIS calculations.
The EO industry typically takes 80-85% of the
ethylene price movement. ICIS uses an average of 82% in its
calculations.
This takes prices to €1,104-1,271/tonne FD (free delivered)
NWE (northwest Europe) and €1,159-1,316/tonne FD
Mediterranean.
The graph below shows the correlation between the two
products, EO and ethylene, up to July.
The European ethylene contract price for August was fully settled at €925/tonne, down by
€20/tonne from July.
The EO market is balanced to tight, following a tumultuous
period of curtailed supply, but the shutdown season is
ongoing.
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