NewsFlashInitial Europe April PX up €25 at €820/t

03 April 2008 11:54  [Source: ICIS news]

LONDON (ICIS news)--An initial April paraxylene (PX) contract settlement has been agreed at €820/tonne ($1,281/tonne) in line with the Asian contract price (ACP) and up €25/tonne from March, a major consumer said on Thursday morning.

The buyer said the number, agreed on a FD (free delivered) NWE (northwest Europe) basis, had followed expectations and was at parity with the ACP at $1,260/tonne CFR (cost and freight) Asia.

Sellers had initially deemed numbers around €820/tonne too low, given the recent volatility in upstream markets but a compromise had to be met.

($1 = €0.64)

For more on PX visit ICIS chemical intelligence

By: Fiona Bond
+44 20 8652 3214

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