European players: Initial March ethylene contracts not to be followed
This is attributed to the upsurge in spot ethylene prices, which were up €100-115/ton on the week. When compared to early February, spot ethylene prices have posted a gain of €190/ton on average, according to ChemOrbis Price Wizard.
Accordingly, players expect ethylene contracts to be fully settled with €40-50/ton increases this week.”Given the upcoming maintenance season at crackers as well as the spot tightness, ethylene producers are likely to push for larger increases,” said a trader in Italy.
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