The contract price of ethylene in Europe for August deliveries was agreed at EUR1,010 per tonne, which is EUR10 per tonne higher than the level of the previous month.

The contract price was set on the terms of FD NWE (with delivery to Northwest Europe).

This level of the contract price was directly confirmed by three manufacturers and two consumers, which is a sufficient configuration to approve the monthly contract price for the material.

The contract price is considered fully agreed upon after its confirmation from at least two manufacturers (suppliers) and from two consumers (buyers).

Naphtha quotes rose in July compared with the previous month, but the increase was reduced due to the still weak basic indicators of supply and demand.

It was previously noted that the contract price of ethylene in Europe for July deliveries was approved at EUR1,000 per tonne, which is EUR75 per tonne lower than in June.

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

Last week, negotiations began on the August contract prices of Russian PE. Some buyers note a decrease in contract prices of high pressure polyethylene (LDPE). At the same time, not all manufacturers began to discuss prices, and negotiations continue this week.