Europe February DMT prices rise by €9/tonne on PX increase

15 February 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--The cost of producing dimethyl terephthalate (DMT) in Europe increased by €9/tonne ($12/tonne) from January to February on Friday, according to calculations made with the upstream paraxylene (PX) contract price.

This takes the February DMT price to €1,079-1,120/tonne FD (free delivered) NWE (northwest Europe).

Other than a blip in December, the value of PX and therefore, DMT, has been increasing since August 2012.

PX contracts rose by €15/tonne from January to February, taking it to €1,260/tonne FD NWE.

Quarterly methanol, another key ingredient in determining the DMT price, increased to €370/tonne FOB (free on board) Rotterdam in the first quarter of 2013, up by €30/tonne from the fourth quarter of 2012.

($1 = €0.75)

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By: Caroline Murray
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