Europe propylene June contract fully confirmed at €840/tonne
Nel Weddle
30-May-2017
LONDON (ICIS)–The European propylene contract
reference price has been established at €840/tonne, down by
€40/tonne from May, several contract
participants said on Tuesday.
So far, two consumers and two producers
have directly confirmed the agreement at €840/tonne,
confirmation from a third consumer and producer is
pending.
A minimum 2+2 producer-consumer settlement
configuration is required in order to establish a new monthly
contract reference price.
A decrease from May’s €880/tonne
settlement had been anticipated, primarily on the back of a
decline in upstream values in May, but expected improvements
in the supply and demand balance also played a part in the
discussions.
The contract is agreed on a free delivered
(FD) northwest Europe (NWE) basis.
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