Initial Europe June OX contract agreed at €1,160/tonne, down €20/tonne

31 May 2012 14:35  [Source: ICIS news]

LONDON (ICIS)--An initial June orthoxylene (OX) contract has settled at €1,160/tonne ($1,432/tonne), down €20/tonne from the previous month, one buyer confirmed on Thursday.

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

According to the buyer, a reduction was expected for June in line with softening numbers and demand in both the US and Asian markets. However, the weaker euro against the dollar helped mitigate the downward movement.

Further confirmation from other players is pending.

($1 = €0.81)

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By: Truong Mellor
+44 208 652 3214



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