21 December 2005 16:47 [Source: ICIS news]
LONDON (ICIS news)--The first monthly European orthoxylene contract for January has been settled at Euro700/tonne, down Euro70/tonne from the fourth quarter contract price, buyers and sellers reported on Wednesday.
The initial settlement, on a free delivered Northwest Europe (FD NWE) basis, between two regular contract partners has been followed by other market participants.
Players said the 9.1% decline over Q4 contract prices had been expected.
Spot orthoxylene prices are currently quoted at $770-800/tonne FOB Rotterdam, according to assessments from global price reporting and market intelligence service ICIS-LOR.
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