Initial Europe October PX settles up by €20/tonne at €1,210/tonne

19 October 2011 12:15  [Source: ICIS news]

LONDON (ICIS)--An initial European October paraxylene (PX) contract has settled at €1,210/tonne ($1,681/tonne), up by €20/tonne from the September contract price, a producer and consumer said on Wednesday.

“The settlement all happened quite quickly and easily. Everyone had given up on waiting for a settlement in Asia.

“The contract price was based on a best guess of what will happen in Asia,” said the producer.

In relation to the October price, the buyer said: “The market has agreed €1,210/tonne and we will follow this price. The market is balanced and there are no problems with availability.”

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

 ($1 = €0.72)

For more on paraxylene visit ICIS chemical intelligence
Please visit the paraxylene ICIS plants and projects database

By: Julia Meehan
+44 20 8652 3214

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