London — The European March paraxylene contract price has fully settled at Eur995/mt ($1,129/mt), sources said Monday.
Two buyers and a seller confirmed the full settlement at Eur995/mt.
The European February PX CP settled at Eur960/mt.
The spot 5-30 days forward European PX price was assessed Friday at $1,002.50/mt FOB ARA.
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The European spot paraxylene market was lackluster in February, with traders reporting little activity out of the Amsterdam-Rotterdam-Antwerp hub.
Despite that, the production margin over feedstock naphtha remained attractive, last calculated at $467/mt on Friday, suggesting there was still strong demand in the paraxylene market despite some falls in activity and flat spot pricing since February’s full settlement, where the 5-30 day forward spot price was assessed at $1,003.50/mt FOB ARA.
–Benjamin Brooks, [email protected]
–Edited by Dan Lalor, [email protected]
Source: S&P Global Platts
