The Northwest European FOB spot prices of ethylene dichloride and vinyl chloride monomer remained stable on the week at $375/mt and $725/mt respectively. No changes to market dynamics from the previous week were heard and the cost of downstream polyvinyl chloride remained stable at Eur975/mt. The June contract price of feedstock ethylene settled at Eur1,105/mt ($1,243/mt), up Eur60/mt month-onmonth May 28. The daily NWE FD ethylene spot price has remained stable at Eur1,240/mt since May 29. Ethylene accounts for 29% of EDC feedstock costs and 49% of VCM feedstock costs. The June ethylene settlement could mean an increase of a further $5/mt to the EDC price, if the full ethylene rise is passed through. Meanwhile, Solvay and Ineos received final approval Tuesday from the European Commission to form a 50-50 chlorvinyls venture, Inovyn, the companies said in a statement.
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