The initial contract price of ethylene in Europe for supplies in November was agreed at the level of EUR1,025 per tonne, remaining at the same level as in October, ICIS reports citing information from a major buyer.

This price level was confirmed by a large producer.

The price of ethylene was agreed on the terms of FD, NWE (North-West Europe).

Earlier it was reported that in October ethylene prices rose by EUR15 per tonne.

Ethylene is the raw material for the production of polyethylene (PE).

According to the Price Review of ICIS-MRC, in Russia the demand for polyethylene in the last week of October was very low, most of the processors took a break in purchases until November. Many are confident in the further decline in polyethylene prices next month. This week the price of polyethylene continued to fall, the film LDPE and HDPE became cheaper. In other segments, demand and supply are more or less balanced, although consumer activity in the last two weeks has significantly decreased.