12 April 2012 11:17 [Source: ICIS news]
LONDON (ICIS)--An initial European April paraxylene (PX) contract has settled at €1,225/tonne ($1,612/tonne), a €43/tonne decrease from the March contract price, a producer and a consumer said on Thursday.
“We agreed the European contract price for PX at €1,225/tonne," said the buyer.
An agreement on the contract price came a little later than usual because of holidays across Europe and recent industry events, said the producer.
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.
The agreement follows settlements last week of the PX Asian Contract Price (ACP). The ACP has not fully settled, but agreements have been made at $1,585/tonne CFR (cost and freight) Asia.
($1 = €0.76)
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