April price paraxylene Europe
April contract price of paraxylene in Europe remained at the level of March
MOSCOW – The contract price of para-xylene in Europe for April deliveries was agreed at the level of March – EUR995 per tonne, market participants told ICIS on Tuesday.
The contract price was agreed on the terms of free delivery – FD NWE (North-West Europe).
Sources in the European market expected that the contract price of paraxylene in the current month would either remain at the level of the previous month, or be slightly reduced against the background of a balanced supply of material in the market and in low demand.
Oil prices on the upstream market increased in March – April, which could limit any downward pressure from weak demand.
Earlier it was noted that the March contract price of paraxylene in Europe increased by EUR35 per ton compared to February of the current year – up to EUR995 per ton.
Paraxylene is a raw material for the synthesis of terephthalic acid – an intermediate for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , the situation on the Russian PET market in April contrasts sharply with that which was on the market exactly a year ago. In April last year, prices rose sharply and the market was entering a period of serious shortage, which became more acute in May-June. In the current year, large processors in advance made sure that last year’s shortage of PET did not recur.
Author: Margarita Volkova