The price of ethylene in Europe is agreed at EUR10 per tonne higher than March
The contract price of ethylene in Europe for April supplies was finally agreed at the level of EUR1,067 per ton, which is EUR10 per ton higher than the level of March, ICIS sources told the market on Tuesday.
The contract price was approved on the basis of FD NWE (with delivery to North-Western Europe).
Two manufacturers and two consumers directly confirmed the agreement of this price, which is the minimum necessary configuration for the final agreement of the contract price.
Earlier it was noted that the contract price of ethylene in Europe for March supplies was finally agreed at the level of EUR1,057 per tonne, which is EUR20 per ton lower than the February level.
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the Price Review of ICIS-MRC, in the Russian PE market last week, buying activity was low, although in some regions there was still a surge in demand. The growth in demand for polyethylene was due to the so-called closure of roads and the impending stop for the prevention of one of the producers. As a result of last week, a significant increase in the prices of high-pressure polyethylene (LDPE) was recorded, while at the same time there was a lot of speculative component in price growth. In the low-density polyethylene market (HDPE), prices actually remained at the level of last week.