09 March 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European March dimethyl terephthalate (DMT) reference prices rose on Friday by €22/tonne ($29/tonne) to €1,080–1,121/tonne, in line with upstream paraxylene (PX), ICIS calculations showed.
The European March PX contract has settled at €1,268/tonne FD (free delivered) NWE (northwest Europe), up by €36/tonne from the February contract price, market players said, following hikes in the dominant Asia market.
The first-quarter contract price for methanol, a secondary feedstock for DMT, is €320/tonne FOB (free on board) ?xml:namespace>
While most buyers agree some degree of increase is justified, some warn that these higher spot prices are not supported by fundamentals and believe only a moderate contractual increase is warranted.
The DMT prices were assessed on a FD NWE basis.
($1 = €0.75)
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