06 January 2011 12:59 [Source: ICIS news]
LONDON (ICIS)--The European January orthoxylene (OX) contract has been agreed at €875/tonne ($1,151/tonne), a rollover from the December contract price, one producer and one consumer said on Thursday.
According to the consumer, the OX market is currently balanced-to-long with very little spot activity seen in Europe.
Combined with talk of a rollover in the US OX market for January in line with feedstock price movements, the consumer added that this was also a “good solution” for Europe.
Further confirmation from other market players was pending.
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.76)
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