09 January 2013 14:10 [Source: ICIS news]
LONDON (ICIS)--The January orthoxylene (OX) contract was confirmed at €1,093/tonne ($1,438/tonne), a rollover from the previous month, numerous sources said on Wednesday.
One seller had initially confirmed a rollover this month with two separate consumers, and this number later received further support from players.
Despite some growing upward pressure from the US and Asia, buyers were adamant that prices should remain steady, as downstream demand was still showing no signs of meaningful recovery yet.
“Negotiations began too late in the month for buyers to pass on any increase downstream to end users,” explained one seller, adding that it expects some upward movement on the February number to compensate for this.
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.76)
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.
|ICIS news FREE TRIAL|
|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|
Asian Chemical Connections