Europe April PA contracts rise by €50/t on balanced-to-tight market

27 April 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--Liquid and solid phthalic anhydride (PA) April contract prices have increased by €50/tonne following the European orthoxylene (OX) contract settlement last week, market participants said on Friday.

Liquid PA April contracts settled at €1,475-1,505/tonne ($1,940-1,980/tonne) FD (free delivered) NWE (northwest Europe), while solid contracts settled at €1,410-1,480/tonne FD NWE.

The PA market is balanced to tight. It is expected to become tighter because of difficulties with sourcing OX.

OX availability is also tight and is expected to tighten further with upcoming scheduled turnarounds in Europe in April and May.

($1 = €0.76)

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