May European ethylene contract price drops
May European ethylene contract
May European ethylene contract price drops by EUR100 per tonne
MOSCOW – The contract price of ethylene in Europe for May deliveries was finally agreed at EUR620 per tonne, which is EUR100 per tonne lower than the level of the previous month, ICIS reported. May European ethylene contract
The contract price was approved on the terms of FD NWE (with delivery to North-West Europe).
This contract price was directly confirmed by two manufacturers and four consumers of the material, which is the minimum necessary configuration for approving the contract price of propylene.
At the same time, confirmation of the May contract price of ethylene is expected from three more manufacturers. May European ethylene contract
This is the lowest monthly contract price of ethylene since February 2009. Over the past three months, the contract price of ethylene fell by EUR350 per tonne due to the coronavirus pandemic, which affects raw materials prices in the upstream market and demand in the downstream market.
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the ICIS-MRC Price Review , last week in Russia, price discussions on May deliveries of PE started, in most cases, sellers announce prices lower. The only exceptions are the prices of high pressure polyethylene (LDPE) of individual sellers.
Author: Margarita Volkova