The Northwest European ethylene contract price for December fully settled at Eur1,057/mt ($1,252.50/mt), sources said, which was up Eur32/mt month on month.
The initial agreement between LyondellBasell and Clariant, was followed by Total and Ineos, some of the parties involved said.
Many market participants had said they were expecting an increase in the December contract price due to the higher cost of feedstock naphtha.
Naphtha CIF NWE was priced at $573.50/mt Wednesday, having steadily increased from $499.00/mt at the beginning of October.
Spot prices for ethylene in Europe were most recently assessed by S&P global Platts to be trading at a 7% discount to December's contract price.
Supplies in the European ethylene market were plentiful, with high runs at plants and de-stocking by producers as the year draws to a close reported, sources said.
There was an unplanned shutdown at the site of Sabic's Geleen steam crackers in the Netherlands on Tuesday. Phased restarts of the plants have begun a spokesman for the operator said.
