06 March 2013 10:16 [Source: ICIS news]
LONDON (ICIS)--An initial March European orthoxylene (OX) contract was agreed at €1,148/tonne ($1,491/tonne), one seller and one buyer said on Wednesday, a €15/tonne increase from the previous month.
Both the buyer and the seller agreed that activity in the market is starting to pick up ahead of the peak season for construction.
“Demand is healthy on our side,” the buyer said.
Despite the €15/tonne increase, a weaker euro over the course of February means that the contract settlement is actually down in dollar terms.
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.77)
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