London — The Northwest European ethylene contract price for January fully settledat a rollover of December's price of Eur1,057/mt, sources said Friday.
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The initial agreement between Sabic and Vynova was followed by BASF andIneos, some of the parties involved confirmed. Not all of the parties repliedimmediately to requests for confirmation of the agreements.
Many market players were expecting a rollover or only a small change inthe price for January.
The price of feedstock naphtha was little changed in December. Itaveraged $570.13/mt FOB Rotterdam barge, close to November's average of$567.73/mt, based on S&P Global Platts data.
S&P Global Platts most recently assessed the spot price of ethylene at a7% discount to both the December and January contract prices in NorthwestEurope. These are the prices at which the most recent trades were agreed,although sources have said the spot market is tightening.
Few spot deals were reported in the final weeks of December in a quietmarket.
--Conor Molumby, firstname.lastname@example.org
--Edited by Jonathan Fox, email@example.com