The Northwest European propylene contract price for April initially settled late Tuesday at Eur880/mt ($950/mt) FD, up Eur15 on the month.
Buyer Ducor confirmed a settlement with seller Shell on Wednesday. Shell wasn't immediately available to comment.
Although the propylene market remains tight, a decrease in feedstock propylene spot prices had lowered expectations of the size of a contract price increase ahead of April.
Northwest European polymer grade propylene spot prices for March were assessed at Eur921/mt Tuesday, falling significantly against the Eur1,055/mt FD NWE assessed at last week.
"A few buyers last week were desperate to pay any price [for propylene] because they were in need, but this wasn't representative of the majority of the market," a propylene buyer said Friday.
Meanwhile, naphtha, the primary feedstock for Northwest European crackers for propylene production, fell 6.3% through March to be assessed at $455.5/mt CIF NWE Tuesday.
