Initial Europe November PX settles up €65/tonne at €680/tonne

04 November 2009 10:49  [Source: ICIS news]

LONDON (ICIS news)--An initial European November paraxylene (PX) contract has settled at €680/tonne ($1,000/tonne), up €65/tonne from October, a producer and buyer said on Wednesday.

“The €680/tonne figure has been floating around since late last week, but now it is official,” said the buyer involved.

The buyer added: “It is up €65/tonne this month due to the recovery of PX numbers in Asia. While there is some talk of tightness, we have enough supply.”

The settlement was agreed on a free on board (FOB) northwest Europe (NWE) basis.

Further confirmation from other market players was pending.

($1 = €0.68)

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By: Truong Mellor
+44 208 652 3214



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