Initial Europe February PX settles up €110/tonne at €1,230/tonne

02 February 2011 12:08  [Source: ICIS news]

LONDON (ICIS)--An initial European February paraxylene (PX) contract has settled at €1,230/tonne ($1,708/tonne), a €110/tonne increase from the January contract price, a producer said on Wednesday.

“Yes, I can confirm €1,230/tonne. The price was based on the Asian settlement and the situation of the fight for every molecule. All buyers are concerned about volumes,” a major PX producer said.

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

Further confirmation from other market players was pending.

($1 = €0.72)

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By: Julia Meehan
+44 20 8652 3214

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