04 October 2012 16:36 [Source: ICIS news]
LONDON (ICIS)--An initial October European paraxylene (PX) contract was agreed at €1,190/tonne ($1,526/tonne), a rollover from the previous month, one seller said on Thursday.
Following a September that was growing increasingly bullish, one major buyer said earlier this week that it had expected a rollover or something close to it.
Many in the domestic market were taking cues from Asia, where a settlement for October was reached at $1,490/tonne CFR Asia, a somewhat modest increase of $40/tonne compared to earlier nominations by producers seeking $150-200/tonne rises this month.
The contract was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.78)
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