Аналог 158 (2)The original contract price of ethylene in Europe for deliveries in March, was agreed at the level of EUR810 per tonne, which is below the level of February EUR20, ICIS reported, citing market sources.

ethylene price is agreed on the conditions of FD, NWE (northwest Europe).

Transactions at this level has already been confirmed by four manufacturers.

Sources in the market believed that the ethylene price for March deliveries will either remain at the level of February or decline slightly, following the trend of oil prices.

Reduction of EUR20 per tonne was associated with a significant reduction in naphtha quotes on a background of increasing demand and the start of the season scheduled stops to repair the majority of manufacturers in Europe.

As reported by the MRC earlier, in the first half of 2016, Europe is expected to closure of some production of polyethylene (PE) and polypropylene (PP), which may have an impact on the market balance.