NewsFlashEurope February PX down €8 at €785/t

08 February 2008 15:20  [Source: ICIS news]

LONDON (ICIS news)--A European paraxylene (PX) producer has reported settling two February contracts at €785/tonne ($1,138/tonne), down €8/tonne on January in line with Asian price movements, it said on Friday.

The producer said that the decrease had been necessary to bring Europe in line with Asia.

It added that although the price increase, settled on an free delivered (FD) northwest Europe (NWE) basis, was not seen as ideal it allowed the maintenance of positive margins.

The February Asian contract price (ACP) was settled at a rollover at $1,100/tonne CFR (cost and freight) Asia, equivalent to €748/tonne in Europe at the time.

($1 = €0.69)

For more on paraxylene visit ICIS chemical intelligence

By: Peter Salisbury
+44 20 8652 3214

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