April price ethylene Europe
The April contract price of ethylene in Europe increased by ERU30 per ton
MOSCOW – The contract price of ethylene in Europe for April deliveries was agreed at the level of EUR1,045 per tonne, which is EUR30 per tonne higher than the level of March, some participants in the contract negotiations in the market told ICIS on Friday. April price ethylene Europe
The contract price was approved under the terms of FD NWE (with delivery to North-West Europe).
This level of the contract price was directly confirmed by two manufacturers and two consumers, which is a sufficient configuration for the approval of the monthly contract price for the material.
The contract price is considered fully agreed upon after confirmation from at least two manufacturers (suppliers) and from two consumers (buyers).
Quotations of raw materials – naphtha – rose last month, which was the main reason for the increase in the contract price of ethylene. According to ICIS, in March growth was EUR29 per tonne compared with the February level.
Market supply and demand have become less balanced in March, due in large part to unplanned downtime of cracking plants in Europe and fairly good demand.
Most of the stops of the cracking units were short-lived, and the European market players remained well prepared for the scheduled preventive season, which will begin in mid-April.
Earlier it was noted that the contract price of ethylene in Europe for March deliveries was finally agreed at the level of EUR1,015 per ton, which is EUR30 per ton higher than the level of February. April price ethylene Europe
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the ICIS-MRC Price Review , negotiations on the contract prices of Russian PE started in April last week. The situation with the prices for the next month is ambiguous, it is planned as a rise in prices and decrease. For some items of PE manufacturers intend to keep March prices. The last week of March in the spot market was fairly calm, with the exception of high-pressure polyethylene (LDPE). The limited supply of individual LDPE items still led to an increase in demand and prices.
Author: Margarita Volkova