September contract price paraxylene Europe - Arhive
The September contract price of paraxylene in Europe increased by EUR210 per ton September contract price paraxylene Europe
MOSCOW – The contract price of paraxylene in Europe for September deliveries was agreed at EUR1,160 per ton, which is EUR210 per ton higher than the August contract price for material, ICIS reported on Wednesday, citing confirmation from both buyers and and by the sellers in the market.
The contract price was agreed on the terms of free delivery – FD NWE (North-West Europe).
Thus, the September contract price for material in the region increased by such a large amount after market participants reached its agreement at different levels: the first was EUR1,170 per ton, and the second was EUR1,150 per ton.
Thus, the contract price was approved at an average mark between the values of these agreed levels.September contract price paraxylene Europe
Quite a lot of time passed between the two above transactions, since the second transaction was confirmed only in early October.
The supply of para-xylene remains limited in all world markets against the background of production problems at enterprises and the growth in demand in downstream markets, which led to an increase in contract prices in September in Europe compared with the previous month.September contract price paraxylene Europe
Earlier it was noted that the August contract price of paraxylene in Europe rose by EUR60 per tonne compared with July to EUR950 per tonne.
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 , in October, the downward trend in demand in the Russian PET market is expected to continue. September contract price paraxylene Europe
The cost of material for contract customers will increase this month by about 3 thousand rubles. per ton. September contract price paraxylene Europe
A rise in spot prices is not expected. According to one of the manufacturers, the market is gradually moving into a phase of excess of supply over demand for material.
mrcplast.ru
Author: Margarita Volkova