The contract price of ethylene in Europe for December supplies was fully agreed at the level of EUR1,057 per ton, which is EUR32 per ton higher than the level of November, ICIS reported citing price confirmation from one consumer and one major producer.

The contract price was approved on the basis of FD NWE (with delivery to North-Western Europe). The contract price is considered fully agreed upon after confirmation from a minimum of two producers (suppliers) and from two consumers.

Negotiations on the December contract price of ethylene in the European market between other market participants continue.

Earlier it was noted that the contract price of ethylene in Europe for November supplies was finally approved at the level of EUR1,025 per ton, remaining the same as in October.

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

According to the Price Review of ICIS-MRC, last week in Russia started negotiations on the December contract prices of Russian PE. Some manufacturers prolonged the November contract prices PE, part of the producers went to raise prices to 1,000 rubles. per ton.