Brazil ethylene contracts to hold steady from September on €5/tonne reduction in European contracts, dollar-reals exchange rates
October 3, 2011
– Brazil ethylene contracts for October are expected to hold steady from September, Platts reported Sept. 30.
Brazil contracts, which follow European pricing with a one-month lag, are likely to stay flat after a US$5-per-tonne (US$6.66/tonne) price reduction in Europe in September, and because of the US dollar-to-reals exchange rates, a Braskem source told the New York-based chemical news service.
September pricing was heard around $1,698/tonne free on board, amid firm demand, reported Platts.
The primary source of this article is Platts, New York, on Sept. 30, 2011.