Initial Europe March OX settles at €750/tonne in tight market

04 March 2010 13:56  [Source: ICIS news]

BRUSSELS (ICIS news)--An initial European March orthoxylene (OX) contract has been settled at €750/tonne ($1,028/tonne), up €30/tonne from February, a producer said on Thursday.

The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.

The market was still very tight, said the producer involved in the initial settlement, adding that the €30/tonne hike represented a compromise.

Further confirmation from other market players was pending.

($1 = €0.73)

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By: Truong Mellor
+44 208 652 3214

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