Europe April PX confirmed up €25/t at €820/tonne

03 April 2008 15:45  [Source: ICIS news]

LONDON (ICIS news)--A major consumer has followed the initial European April paraxylene (PX) settlement, up €25/tonne at €820/tonne ($1,281/tonne), a source at the company said on Thursday.

 

It was deemed to be in line with expectations, following the Asian settlement at $1,260/tonne CFR (cost and freight) Asia, up $90/tonne on increased demand downstream for purified terephthalic acid (PTA).

 

Echoing sentiment in Asia, European sellers had been hoping for a greater increase with numbers around €840/tonne being heard, but a compromise was struck.

 

The agreement was made on a FD (free delivered) NWE (northwest Europe) basis.

 

($1 = €0.64)

By: Fiona Bond
+44 20 8652 3214

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