November contract price of paraxylene in Europe increased by EUR20 per tonne – The contract price of paraxylene in Europe for November supplies was finally agreed at the level of EUR765 per ton, which is EUR20 per ton higher than the level of October – November contract price paraxylene Europe - Arhive

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November contract price of paraxylene in Europe increased by EUR20 per tonne 

November contract price paraxylene Europe   MOSCOW  – The contract price of paraxylene in Europe for November supplies was finally agreed at the level of EUR765 per ton, which is EUR20 per ton higher than the level of October, ICIS sources told the market.

The contract price was approved on condition of free delivery – FD NWE (North-Western Europe).

So, the initial contract price of paraxylene was agreed last week and this week received further confirmation from other market participants.

The current increase in the contract price reflects the upward price trend in Asia, as well as the result of increased raw material prices.  In particular, Brent and WTI futures recently traded at the highest level since mid-2015.

In addition, it should be noted that the growth in the contract price of paraxylene in the European market has been for the fourth consecutive month.

Spot quotes of paraxylene in Europe have grown since October.  Thus, the average spot prices rose from the level of USD750 per tonne, FOB Rotterdam, on October 20 to USD777 per tonne, FOB Rotterdam, last week.

Earlier it was noted that the October contract price of paraxylene in the European market was approved at EUR5-15 per tonne above the level of September and amounted to EUR745 per tonne, FD NWE.

Paraxylene is a raw material for the synthesis of terephthalic acid – a semi-product for the production of polyethylene terephthalate (PET).

According to the Price Review of ICIS-MRC , in November the level of spot prices of Russian producers will be in the range of 78 000-83 000 UAH.  per ton, CPT Moscow, including VAT.

mrcplast.ru

Author:   Margarita Volkova