Europe Feb PA settles at rollover to down €10/t

15 February 2008 23:59  [Source: ICIS news]

LONDON (ICIS news)--Freely negotiated European phthalic anhydride (PA) contracts for February were settled between a rollover and a decrease of €10/tonne ($15/tonne), buyers and sellers said on Friday.

Sellers had attempted to regain some margins by not following the upstream orthoxylene (OX) decrease of €10/tonne, but there was only limited success.

Most reported business followed raw materials, and prices were assessed €10/tonne lower accordingly, at €1,170-1,235/tonne for molten product and €1,145-1,235/tonne for flaked material, both on a FD (free delivered) NWE (northwest Europe) basis, according to global chemical market intelligence service ICIS pricing.

Contract demand remained buoyant for the time of year, with customers in the resins sector reporting strong offtake. The plasticisers market was a little weaker.

($1 = €0.68)

For more on phthalic anhydride (PA) visit ICIS chemical intelligence

By: Shelley Kerr
+44 20 8652 3214

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