Europe August PX contract confirmed at €1,130/tonne

10 August 2012 15:21  [Source: ICIS news]

LONDON (ICIS)--The European August paraxylene (PX) contract was confirmed at €1,130/tonne ($1,395/tonne), up €135/tonne from the previous month, after the initial settlement received further support from players in the market, sources said on Friday.

According to sellers, the increase was largely driven by firmer pricing in Asia, where the monthly settlement moved up by as much as $205/tonne.

Additional upward pressure has been seen on spot pricing this week, owing to higher feedstock and energy costs, as well improved derivative purified terephthalic acid (PTA) prices.

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

($1 = €0.81)

By: Truong Mellor
+44 208 652 3214

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