Initial Europe April orthoxylene settles up €20 at €570/tonne

09 April 2009 15:41  [Source: ICIS news]

LONDON (ICIS news)--An initial April European orthoxylene (OX) contract price has been agreed up €20 at €570/tonne ($750/tonne), a producer and a buyer said on Thursday.

The contract was settled on a free on board (FOB) Rotterdam basis.

According to one buyer, the €20/tonne increase had been expected, despite the continued slump in buying activity in downstream sectors.

“The arbitrage window to Asia is open, and supply in Europe has become increasingly tight,” the buyer said.

Further confirmation from other market players was pending.

($1 = €0.76)

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By: Truong Mellor
+44 208 652 3214

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