Initial Nov Europe PX contract agreed at €1,055/tonne

14 November 2013 14:42  [Source: ICIS news]

LONDON (ICIS)--An initial European November paraxylene (PX) contract price has been settled at €1,055/tonne ($1,426/tonne), down €53/tonne from the previous month, one consumer said on Thursday.

A decrease had been expected, in line with a weaker Asian market and slower derivative demand in the fourth quarter.

However, the failure of Asian players to reach an agreement for the November Asian contract price stalled discussions in Europe, as buyers and sellers waited for a clearer picture to emerge for the month.

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

Further confirmation from other players is pending.

($1 = €0.74)

By: Truong Mellor
+44 208 652 3214

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