The contract price of ethylene in Europe for deliveries in January were fully agreed on the level of EUR985 per tonne, which is above the level of EUR45 in December, according to ICIS.

Two of the three producers and customers have confirmed this price level, the other two manufacturers have also yet to confirm it.

The contract price of ethylene was agreed FOP FD, NWE (northwest Europe).

As reported by the MRC before, thanks to the growth of quotations of naphtha December ethylene contract prices also increased by EUR45 per tonne.

According to the price review ICIS-MRC, European manufacturers are looking quite optimistic for the first half of 2017, whereas the situation in the second half of the year it is not clear yet. Planned stops Series ethylene capacity in the first half of the year, is expected to relieve the market from over-polyethylene. PE prices in Europe on a global scale are low, and it is expected that this factor will have an impact on the volume of imports in the first half of the year.