13 October 2005 13:32 [Source: ICIS news]
LONDON (ICIS news)--Orthoxylene (OX) contract partners are still struggling to come to a final agreement on the fourth quarter contract price, 15 days after an initial settlement was reached at Euro730/tonne FD NWE, buyers and sellers said on Thursday.
A major German supplier was looking for a price closer to Euro800/tonne than Euro700/tonne free delivered Northwest Europe (FD NWE), citing strong mixed xylenes spot prices in ?xml:namespace>
A small phthalic anhydride (PA) producer in
“We cannot accept more than Euro730/tonne (FD NWE),” he said. “How can we compete with Asian product?”
The original deal between Austrian phthalic anhydride (PA) producer Atmosa and
Suggestions that French producer Total might agree at this price level were quashed when the company said their force majeure declaration on OX would exclude them from contract discussions. The contractual caveat was declared on 29 September after strike action at the refinery in Gonfreville,
US orthoxylene (OX) producers and consumers said that October contract prices were partially settled at an all-time high of 48 cents/pound ($1,057/tonne or Euro873/tonne) free on board (FOB), up 5 cents/pound from September due to record highs in mixed xylenes prices.
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