May ethylene price Europe
May ethylene contract price in Europe increased by ERU30 per ton
MOSCOW – The contract price of ethylene in Europe for May deliveries was agreed at EUR1,075 per tonne, which is EUR30 per tonne higher than the level of April, ICIS reported.
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 the two producers 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).
The main driving factor behind the growth in the contract price of ethylene was once again the change in crude oil prices, which showed an uptrend last month. Commodity quotes also increased after the recent unexpected problems at cracking plants in Europe and in connection with the beginning of the period of preventive work in production.May ethylene price Europe
Earlier it was noted that the contract price of ethylene in Europe for April deliveries was finally agreed at the level of EUR1,045 per ton, which is EUR30 per ton higher than the level of March.
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the ICIS-MRC price review , despite the upcoming long May holidays, buying activity in the Russian market was low in late April. Most of the companies did not form additional reserves for the weekend period, although there were exceptions.
The excess supply on a number of types of PE in the Russian market persists, but it no longer exerts serious pressure on prices. As a result of last week, there was a decrease in prices for certain types of PE, but they are not as significant as at the beginning of the month.
Author: Margarita Volkova