Initial Sept NWE OX contract agreed up €5/tonne at €1,050/tonne

05 September 2013 15:04  [Source: ICIS news]

LONDON (ICIS)--An initial European September orthoxylene (OX) contract settlement has been heard at €1,050/tonne ($1,382/tonne), one seller said on Thursday.

While downstream phthalic anhydride (PA) sentiment is picking up in Europe following the traditional holiday lull in activity, falling OX numbers in Asia amid weak demand played a role in tempering any price upturn this month.

The seller expressed surprise at the minor increase for September, arguing that the European market remains balanced, and firmer pricing indications from the mixed xylenes (MX) sector as well as the US should have supported a larger upward movement.

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

Further confirmation from other players is pending.

($1 = €0.76)


By: Truong Mellor
+44 208 652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly