Europe Shifts to Monthly Contract Pricing, for Now

European players have agreed to shift propylene contract pricing from a quarterly basis to a monthly basis for January, amid unprecedented market volatility. The January contract agreement is €430/m.t., a decrease of €523/m.t. or 55% from the fourth-quarter 2008 level. The propylene settlement will most likely force a similar shift to monthly pricing for acrylonitrile, a major derivative, sources say. Producers confirm to CW that a January acrylo contract is likely to be agreed to in Europe at €1,100-€1,150/m.t., a decrease of about...

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