01 April 2011 14:10 [Source: ICIS news]
LONDON (ICIS)--An initial European April paraxylene (PX) contract has settled at €1,250/tonne ($1,786/tonne), a €20/tonne decrease from the March contract price, a producer and consumer said on Friday.
A major producer confirmed the April settlement, adding that it was based on “good demand and okay supply”.
The consumer, which did not fully confirm that it had agreed to an April contract price, said: “€1,250/tonne is the number in the market. I heard two settlements. Exxon Mobil and Cepsa and two other parties.”
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other market players was pending.
($1 = €0.70)
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