Europe May DMT reference prices roll over in line with feedstocks

17 May 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--The European May dimethyl terephthalate (DMT) reference prices rolled over from April on Friday, in line with upstream paraxylene (PX).

The ICIS calculations incorporate the April and May PX price of €1,120/tonne ($1,436/tonne) FD (free delivered) NWE (northwest Europe), which results DMT at €985-1,026/tonne.

As there was no clear contract price seen this month in the Asian PX market, European players looked at the average spot price developments to reach a PX settlement for May.

The European Q2 methanol contract price and the monthly April PX price were both used in the April DMT reference price calculations.

($1 = €0.78)

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By: Caroline Murray
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