16 May 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--European February purified terephthalic acid (PTA) contracts were reported settled at a €5/tonne ($8/tonne) decrease, in line with upstream paraxylene (PX) price evolution, market sources said on Friday.
After some lengthy negotiations, the market was assessed between €790-817/tonne FD (free delivered) NWE (northwest ?xml:namespace>
The PX contract for February had settled down €8/tonne at €785/tonne FD NWE.
PTA discussions had been very drawn out in some cases for January and February business, with both months ultimately settling very quickly or in tandem, depending on the seller and buyer involved.
Buyers expressed concerns over future supply, especially in June, although most said they had sufficient stocks to continue unaffected this week and next.
($1 = €0.65)
For more on PTA visit ICIS chemical intelligence
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections