Europe PA July contracts fall by €115/tonne on feedstock costs

20 July 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European phthalic anhydride (PA) July contracts have settled at a reduction of €115/tonne ($142/tonne), mirroring the fall in the July feedstock orthoxylene (OX) contract price, buyers and sellers said on Friday.

Producers had been aiming for contract price reductions of less than the OX fall in order to restore margins. Nevertheless, despite PA supply constraints, they were unable to limit price falls because of poor margins downstream.

Polynt has declared force majeure on its European PA supplies because of a shortage of OX.

($1 = €0.81)

By: Mark Victory
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly