04 October 2013 16:31 [Source: ICIS news]
LONDON (ICIS)--An initial European October orthoxylene (OX) contract has settled at €1,040/tonne ($1,425/tonne), one seller said on Friday, down €10/tonne from the previous month.
The supplier said it had confirmed the numbers with two of its customers, one of whom said it had agreed the reduction with another producer.
There has been a wide expectation that the OX contract would see a reduction alongside upstream energy costs and weaker global markets, but with European availability balanced overall this was likely to mitigate any downtrend in pricing.
The settlement was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.73)
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