First Europe March PX contract settles at €695/tonne

10 March 2009 11:27  [Source: ICIS news]

LONDON (ICIS news)--An initial Europe paraxylene (PX) March contract has settled up €85/tonne at €695/tonne ($882/tonne), a producer said on Tuesday.

The February contract price was agreed at €610/tonne FOB (free on board) Rotterdam.

Further confirmation from other market players was pending.

According to one producer, PX supplies had been tightening due to production cutbacks across Europe, which had applied upwards pressure on prices.

“There is less production, but consumption has remained the same,” said the producer, adding that export interest to Asia had also driven the €85/tonne increase.

($1 = €0.79)

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By: Truong Mellor
+44 208 652 3214

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