Further confirmation for €820/t Europe April PX

09 April 2008 16:58  [Source: ICIS news]

LONDON (ICIS news)--Further confirmation of the European paraxylene (PX) April contract settlement at €820/tonne ($1,281/tonne), up €25/tonne from March, was heard on Wednesday.

 

Initial settlements filtered through into the market during the previous week and came as a surprise to sellers, who had originally sought targets up to €20/tonne higher.

 

They argued that tight supply coupled with recent crude volatility should by rights equate to firmer prices.

 

However, the number was considered to be in line with the Asian settlement at $1,260/tonne CFR (cost and freight) Asia, up $90/tonne from the previous month.

 

The contract was agreed on a FD (free delivered) NWE (northwest Europe) basis.

 

($1 = €0.64)

By: Fiona Bond
+44 20 8652 3214

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly