30 April 2012 00:00 [Source: ICB]
EU MARCH PTA UP ON FEEDSTOCK PX
Prices in Europe for March purified terephthalic acid (PTA) increased by about €24/tonne ($32/tonne) to €1,007-1,032/tonne, in parallel with feedstock paraxylene (PX), which increased by €36/tonne from February to March.
EU APRIL PO RISES ON PROPYLENE COSTS
European propylene oxide (PO) prices have risen by €40/tonne ($53/tonne) for April, representing 80% of the €50/tonne hike in upstream propylene costs. This is the fourth successive price increase for PO since the start of the year, and brings prices into the range of €1,630-1,740/tonne FD (free delivered) NWE (Northwest Europe).
NORTH AMERICAN ACN CONTRACT PRICES RISE
March North American acrylonitrile (ACN) contract prices increased from the February contract by an average of 0.655 cents/lb ($14/tonne, €11/tonne) to 110.11-114.00 cents/lb DEL (delivered) on the small upward movement of feedstock ammonia prices. April propylene contract prices rolled over from March.
EU Q2 MELAMINE SETTLES AT INCREASE
Second-quarter European melamine contract prices have risen by €30/tonne ($39/tonne) from the previous quarter on firm feedstock costs and the need to recover lost margins. Prices were assessed at €1,010-1,090/tonne FD (free delivered) NWE (Northwest Europe). European melamine contract prices had been falling since the settlement of the second-quarter contract last year, on good availability and dwindling demand. Competitively priced imports also forced prices down.
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