Europe June DMT drops by €17/tonne due to PX

14 June 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--The European dimethyl terephthalate (DMT) reference contract price in Europe fell by €17/tonne ($23/tonne) from May on Friday, following the €28/tonne drop in upstream paraxylene (PX) over the same period.

This takes DMT prices to €968-1,009/tonne FD (free delivered) NWE (northwest Europe), according to ICIS calculations.

The European June paraxylene (PX) contract has been agreed at €1,092/tonne this week

Initial speculation concerning third-quarter methanol contracts points to a potential rollover at €390/tonne FOB (free on board) Rotterdam. The demand and supply balance is relatively unchanged.

The DMT market is depleting because of competition from purified terephthalic acid (PTA) and PTA-based polymers.

($1 = €0.75)

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By: Caroline Murray
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