March contract price paraxylene Europe
March contract price of paraxylene in Europe fell by EUR145 per ton
MOSCOW – The contract price of paraxylene in Europe for March deliveries was agreed at EUR590 per tonne, which is EUR145 per tonne or 20% lower than in February this year, ICIS reported citing sellers and buyers in the market.
The contract price was agreed on a free supply basis – FD NWE (Northwest Europe).
Thus, the March contract price for the material reached its lowest point since January 2009.March contract price paraxylene
The recent sharp drop in oil quotes and paraxylene prices in the Asian market, which is affecting European pricing, has put downward pressure on paraxylene prices in Europe.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 , a stable situation remains in the Russian market of PET granules. Until the end of the second quarter, two opposite trends will affect the price of granulate for large consumers – the growth of the dollar against the ruble and the continuous decline in Chinese quotes.