The April propylene contract price in Europe wqas fully settled up Eur10/mt from March at Eur927/mt ($1,149.29/mt), a CP party confirmed Thursday.
The initial agreement involved seller BP and buyer OXEA. OXEA confirmed, and it was then followed by Ineos and another seller. BP and Ineos did not immediately reply to requests for comment.
The spot price was last assessed at Eur927.5/mt FD NWE Wednesday, up from Eur898.5/mt on March 1, S&P Global Platts data showed.
An increase in the contract price was projected earlier this week by Platts propylene indicator following the recent rise in feedstock naphtha in recent weeks.
The spot price of naphtha was last assessed at $593.75/mt CIF NWE Wednesday, up from $551.25/mt on March 1, according to Platts data
