The European ethylene glycol (EG) producer have settled second quarter contracts of the year 2002 at &euro515/m.t. del, an increase of &euro65/m.t. This follows the preliminary &euro37/m.t. rise in second quarter contracts, which has not been fully accepted by the market. EG producers are hoping for a settlement as high as &euro560/m.t., citing rising ethylene prices and stronger EG demand during the first quarter of the year 2002. A spot pricing rebound in Asia/Pacific had encouraged European producers to push for higher contracts.