14 January 2010 14:16 [Source: ICIS news]
LONDON (ICIS news)--The European January paraxylene (PX) contract has been confirmed at €800/tonne ($1,159/tonne), up €60/tonne from December, three producers and three consumers said on Thursday.
The increase was in line with the Asian January PX contract price, which had been agreed in December at $1,090/tonne CFR (cost and freight) ?xml:namespace>
A tight domestic market contributed further to the more bullish sentiment in
Demand appeared to be healthy and stock levels among several producers were reported as “low”, with at least two sellers confirming they had no additional material available to sell on an ad hoc basis.
Meanwhile, it was confirmed that French producer Total Petrochemicals had declared force majeure on both its PX and orthoxylene (OX) lines at Gonfreville in
The European PX contract was settled on a free on board (FOB) northwest Europe (NWE) basis.
($1 = €0.69)
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