Initial Europe PX up €60/tonne on high feedstock costs, tight market

06 September 2012 14:46  [Source: ICIS news]

LONDON (ICIS)--An initial European September paraxylene (PX) contract has settled at €1,190/tonne ($1,506/tonne), a €60/tonne increase from the August contract price, a producer said on Thursday.

Market sources said this week that they had expected an increase. “Feedstock costs are high and the market is tight,” the seller said.

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

The agreement follows settlements last week of the PX Asian Contract Price (ACP). On 31 August, three Asian PX suppliers had settled their September ACP with their respective buyers at $1,450/tonne CFR (cost and freight) Asia, up by $85/tonne from the previous month’s settlement.

Further confirmation from other players is pending.

($1 = €0.79)

By: Helena Strathearn
+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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index