NPRA '06: Euro April OX contract seen stable-Lonza

27 March 2006 19:44  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--The European orthoxylene (OX) market does not anticipate any significant change in the value of the April contract price, an official from Lonza said on Monday.

Carmine Masullo, business leader of purchasing and logistics at Lonza, a leading European consumer of OX, said he hoped for a slightly lower a contract price for April but understands that high energy and feedstock costs probably meant that producers would seek a small increase.

“There are currently no issues with availability in Europe, particularly in the Mediterranean, but the recent jump in the value of mixed xylene, coupled with high production costs, will most probably result in a rollover”, Masullo said.  

Another large consumer recently voiced expectations of a contract rollover from March to April.

The March contract price was agreed at Euro700/tonne free delivered Northwest Europe, down Euro30/tonne from February, which was fixed at Euro730/tonne.

By: Julia Meehan
+44 20 8652 3214

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