European ethylene contract price for October agreed at €940/tonne

29 September 2016 10:04 Source:ICIS News

Europe Oct ethylene contract confirmedLONDON (ICIS)--The European ethylene contract price for October has been fully confirmed at €940/tonne following direct confirmation from two producers and two consumers, contract participants said on Thursday.

The €15/tonne increase over September was in line with many players’ expectations, given the increase in naphtha costs over the month, amidst a backdrop of balanced supply and demand.

Two other producers have been named as co-settlers but direct confirmation from both of them remains outstanding.

Meanwhile, discussions continue over next month’s contract price for propylene currently in a stalemate between two camps, one at €730/tonne and the other at €720/tonne.

The contract is agreed on a free delivered (FD) northwest Europe (NWE) basis.

Follow Nel Weddle on Twitter

By Nel Weddle