Europe PX bids jump $40/tonne on Asia deals

28 February 2008 12:33  [Source: ICIS news]

LONDON (ICIS news)--European paraxylene (PX) bids increased $40/tonne (€26/tonne) amid talk of a tight Asian market, traders said on Thursday.

“Paraxylene (PX) is bid at $1,100/tonne FOB [free on board] for March but there are no offers,” one trader confirmed.

Another agreed with the bid, saying that “CFR [cost and freight] deals done in Asia at $1,200/tonne are making a European netback above $1,100/tonne”.

A trader said a March bid at $1,105/tonne for March on Wednesday afternoon did not receieve any offers.

“You can’t buy 5,000 tonnes of FOB PX in Europe as ExxonMobil is down on the 7 May so FOB is a no-no for March,” another trading source said.

ExxonMobil reportedly has a six-week planned turnaround at its Botlek aromatics facility in the Netherlands, which has a capacity of 575,000 tonnes/year, according to ICIS plants and projects.

($1 = €0.66)

For more on PX visit ICIS chemical intelligence

By: Julia Meehan
+44 20 8652 3214

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