11 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European October dimethyl terephthalate (DMT) contract reference prices fell by around €21/tonne ($28/tonne) following a decrease in the monthly contract price of the primary raw material paraxylene (PX) and a lesser increase in the secondary feedstock methanol fourth-quarter settlement.
The DMT price range is now at €972-1,013/tonne FD (free delivered) NWE (northwest Europe), according to ICIS.
The European October PX contract price has been settled at €1,108/tonne FD NWE, down €22/tonne from the previous month, sources confirmed this week.
European PX players will continue to take cues from the Asian market next year, with several capacity expansions in China, Korea and the Middle East likely to dampen pricing sentiment in 2014.
The European methanol contract price for the fourth quarter has been confirmed at €408/tonne FOB (free on board) Rotterdam, up by €18/tonne.
Invista's 150,000 tonne/year DMT plant in Gersthofen, Germany, is no longer producing following the permanent shutdown of its plant at the end of September, a company source confirmed earlier this week.
Competition from purified terephthalic acid (PTA)-based polymers was just too great, and while some DMT customers are sticking to DMT-based products, other are looking to convert.
This closure will leave Oxxynova as the only DMT producer in western Europe.
($1 = €0.74)
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