Initial Europe September PX price awaits full confirmation

09 September 2010 10:11  [Source: ICIS news]

LONDON (ICIS)--The initial European September paraxylene (PX) contract settlement at €810/tonne ($1,025/tonne), reported by a producer earlier on Thursday, has not been fully confirmed, consumers said.

The initial September PX settlement price was up €65/tonne from the August PX contract price.

Commenting on the initial settlement, a major consumer said: “I was told by a supplier about the contract, but I haven’t followed yet and I am one of the parties involved in the settlement.”

A second major buyer also said that it had not agreed to the September contract price reported in the market.

“I need to see two parties on both sides. I am sceptical,” said a second consumer.  

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

($1 = €0.79)

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By: Julia Meehan
+44 20 8652 3214

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