IHS Chemical Week

Economics :: Prices

Monthly Contract Pricing & Becoming Standard in Europe

6:11 AM MDT | June 29, 2009 | Gregory DL Morris

With the settlement last week of July ethylene contracts in Europe at €785/m.t., the monthly pricing mechanism has become established, market participants say. The July agreement reflects an increase of €80/m.t. from June. Monthly pricing was adopted in January as a temporary expedient when no first-quarter agreement could be reached. Buyers and sellers have debated monthly contract pricing for years. Some bilateral monthly agreements emerged, as did a flurry of bimonthly contracts in recent years. “Monthly contracts have definitely reduced...

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