The contract price of ethylene for July in Europe was finally agreed at the level of EUR965 per ton, which is EUR50 lower than the quotations of the previous month, ICIS confirmed two producers and two buyers on the market.

Both buyers agreed to buy at this price level with the two sellers indicated, and the confirmation was received from all the parties involved.

The decline in ethylene prices was mainly due to a decrease in the costs of naphtha last month.

The contract price of ethylene was agreed on the terms of FD NWE (north-western Europe).

As previously reported by the Market Report, the contract price of ethylene in Europe for June supplies was finally agreed at the level of EUR1,015 per ton, which is EUR35 per ton lower than the May price.

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

According to the Price Review of ICIS-MRC, the buying activity in the Russian PE market in the last week of June was quite low, many companies closed their deals a week earlier and took a break until July. The decline in prices for some types of polyethylene continued.
Several suppliers said that by the beginning of this week they had sold all their June PE volumes.