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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|