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Initial Europe May ethylene, propylene settle up on firm naphtha

April 27/2011

(ICIS) -- Initial European May ethylene and propylene contract price settlements have been agreed at EUR 1.230/tonne (USD 1.809/tonne) and EUR 1.245/tonne respectively, a major consumer said on Wednesday.

The ethylene settlement marked a EUR 25/tonne increase while propylene gained EUR 35/tonne. The increases were driven by firm feedstock naphtha developments; supply and demand fundamentals were largely considered flat from last month.

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