Initial Europe May OX settles up €10/tonne at €580/tonne

12 May 2009 17:11  [Source: ICIS news]

LONDON (ICIS news)--An initial May European orthoxylene (OX) contract price has been agreed up €10 at €580/tonne ($784/tonne), a producer said on Tuesday.

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

“Although demand is still weak in Europe, sellers felt that the higher upstream costs seen warranted an increase,” said the producer. “The settlement at €580/tonne was a compromise.”

Further confirmation from other market players was pending.

($1 = €0.74)

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By: Truong Mellor
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