November contract ethylene Europe price fell
November contract ethylene Europe
November contract price of ethylene in Europe fell by EUR30 per ton
MOSCOW – The contract price of ethylene in Europe for November deliveries was agreed at EUR960 per tonne, which is EUR30 per tonne lower than the level of the previous month, ICIS reported.
The contract price was approved on the terms of FD NWE (with delivery to North-West Europe).
The agreement was directly confirmed by three manufacturers and two consumers, confirmation from the third consumer is expected.
It was previously reported that the contract price of ethylene in Europe for September deliveries was agreed at EUR970 per tonne, which is EUR40 per tonne lower than the level of the previous month.
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the ICIS-MRC Price Review , in Russia the demand for polyethylene is still low, and lower prices in the market cause a backlash – consumers limit their purchases. Preventive downtime of Russian manufacturers ended, the supply of polyethylene increased significantly, while demand fell, and in November a further decrease in demand is expected.