Final confirmation on February PX at €785/tonne

11 February 2008 17:58  [Source: ICIS news]

LONDON (ICIS news)--Final seller confirmation was heard on Monday of settlements of European paraxylene (PX) February contracts at €785/tonne ($1,138/tonne).

A source at a major European producer confirmed that it had settled the remainder of its contracts at the above number, down €8/tonne ($12/tonne) on January, on a free delivered (FD) northwest Europe (NWE) basis.

Market participants had attributed the settlement to a need to bring European contracting in line with Asia, where both January and February contracts had been rolled over at $1,100/tonne CFR (cost and freight) Asia. 

($1 = €0.69)

By: Peter Salisbury
+44 20 8652 3214

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