Initial Europe January paraxylene settles up by €80/tonne

05 January 2012 10:17  [Source: ICIS news]

LONDON (ICIS)--An initial European January paraxylene (PX) contract has settled at €1,130/tonne ($1,468/tonne), an €80/tonne increase from the December contract price, a producer said on Thursday.

"The increase follows Asian pricing and reflects the market situation here in Europe," the producer said.

"Demand is stronger than the last month, but it is not clear whether this is because stocks are being refilled, or the economy is getting better."

The producer said demand in Asia is very strong and that prices are firming as a result.

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

($1 = €0.77)

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By: Helena Strathearn
+44 208 652 3214

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