The European December orthoxylene contract price has been fully settled at Eur840/mt (about $957/mt), down Eur30/mt from November's contract price, sources confirmed this week.
Two buyers and a seller confirmed that they had settled at Eur840/mt.
One of the sellers confirmed settling with more than one counterparty at the same level. And two buyers confirmed it was a full settlement.
A contract price is considered fully settled when two buyers and two sellers agree independently on the same contract price level.
The spot European OX price was assessed Wednesday at $900/mt FOB ARA.
OX spot has fallen as feedstock mixed xylenes has fallen, led mainly by the fall in upstream crude. There has also been downward pressure from low demand from the phthalic anhydride market, the main demand source for orthoxylene.
Contracted supply and demand is finely balanced, sources have said, as such there is less demand in the spot market.
