NewsFlashEurope March PX settles up €10/t

06 March 2008 10:21  [Source: ICIS news]

LONDON (ICIS news)--An initial March paraxylene (PX) contract settlement has been made at €795/tonne ($1,223/tonne), up €10/tonne from February on rising energy costs, a major consumer said on Thursday.

The buyer was pleased with the contract, settled on an FD (free delivered) NWE (northwest Europe) basis, deeming it "normal" in the current climate.

There had been fears that the Asian settlement, up $70/tonne from February, would lead to a greater increase on European business, but a stable market thwarted plans for larger hikes.

($1 = €0.65)

For more on PX visit ICIS chemical intelligence

By: Fiona Bond
+44 20 8652 3214

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