The contract price of ethylene in Europe for the October deliveries was agreed at EUR775 per tonne, down EUR10 per tonne from the previous month, ICIS reported.

The contract price was approved on FD NWE terms (delivery to Northwest Europe).

The calculation is directly confirmed by four producers and three consumers. The contract price is fully set when at least two producers and two consumers have directly confirmed the deal.

Earlier it was reported that the contract price of ethylene in Europe for September deliveries was agreed at the level of EUR785 per ton, which is in line with the previous month.

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

The total PE output in Russia amounted to 1,712.4 thousand tons in the first seven months of this year, which is 58% more than in 2019. The largest increase in production volumes fell on linear polyethylene (LLDPE).