Europe July DMT increases €5/tonne in line with upstream contracts

12 July 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--The European dimethyl terephthalate (DMT) July reference contract price increased on Friday by €5/tonne ($7/tonne) compared with June, in line with upstream paraxylene and methanol contracts.

The increase brings the July DMT price range to €973-1,014/tonne FD (free delivered) NWE (northwest Europe), according to ICIS.

Monthly paraxylene (PX) increased by €8/tonne to €1,100/tonne from June to July.

Following the Asian contract price settlement this month at $1,410/tonne CFR (cost and freight) Asia, a $10/tonne increase from June, domestic players had expected a similar European number amid subdued spot activity.

Quarterly methanol rolled over at €390/tonne FOB (free on board) Rotterdam from the second to the third quarter.

($1 = €0.76)

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By: Caroline Murray
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