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NWE Q3 propylene contract price expected to settle imminently
AFP
London
Petroleumworld.com 06 28 07
European propylene market sources were expecting to see an imminent
settlement in the Northwest European third quarter contract price following
this morning's ethylene contract settlement at Eur925/mt FD NWE.
Market sources reported that buyers and sellers had come closer in their
price ideas with an increase in the region of Eur25-30/mt FD NWE being talked
Wednesday morning. This would take the Q3 settlement to Eur875-880/mt FD.
Sellers reported eyeing improving prices in the downstream polyproplyene
market as making a good case for higher increases. However, buyers of monomer
for that market said that although PP prices would likely leap in July, other
increases such as logistical costs and rebates calculated by percentage meant
that their margins were not as good as first glances suggested.
Sources expected a settlement late Wednesday or early Thursday.
--William Bathurst, william_bathurst@platts.comFor simliar news, request a free trial to Petrochemical Report at
http://www.platts.com/Request%20More%20Information/index.xml?src=story
Platts 27 06 07
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