Initial August Europe PX contract agreed at €1,100/tonne

12 August 2013 10:42  [Source: ICIS news]

LONDON (ICIS)--An initial European August paraxylene (PX) contract price has been settled at €1,100/tonne ($1,467/tonne), a rollover from the previous month, one seller said on Monday.

Despite some upward movement in Asia this month, with the monthly contract price settling at $1,440/tonne CFR (cost and freight) Asia, a $30/tonne increase from July, macroeconomic uncertainty kept European consumers wary this month.

“There has been a strong push back from buyers this month,” said the seller.

The contract was agreed on a free delivered (FD) northwest Europe (NWE) basis.

Further confirmation from other players is pending.

($1 = €0.75)

By: Truong Mellor
+44 208 652 3214

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