Contract cracker margins in North-west Europe continued to be pulled down by high feedstock naphtha prices, pressing producers to increase November contract prices of ethylene, as per Platts. Average naphtha price was assesed at US$756/mt Thursday for October, up 11% on September's average and up 14% on the August average. Average October cracker margins assessed at €92.88/mt (US$128.574/mt) were down 45% from the September's average of €167.77/mt (US$216.44/mt). Compared to the August average of €183.91/mt (US$240.44/mt) October was down by almost 50%.
Ethylene contract prices are still under negotiation and yet to be confirmed for the month of November. The NWE October ethylene contract settled at €950/mt FD NWE.