– PX ECP fully settled at Eur995/mt, rollover
– OX ECP entering final negotiation stages
European xylenes spot pricing was stable on Thursday with little activity seen in the Chemical Industry. “We’ve had nothing at all this week,” a source said. In mixed xylenes specifically, supply was good, but offer levels were heard to be above buyers’ expectations. “In the Med, there is a product but the premium is too high and consumers don’t want to pay for it,” a trader said (Chemical Industry). Exports were also not an option, with one trader noting that arbitrage opportunities were closed and another adding that the usual route to India was also not open because pricing in the Middle East and the Far East was more attractive. In contract news, the European paraxylene contract price for April was confirmed as fully settled on Thursday at Eur995/mt, a rollover from March. The settlement should give some direction to spot trading as well as downstream Chemical Industry. The European orthoxylene contract price was not confirmed to be fully settled yet, though sources suggested a full settlement would be agreed shortly. European orthoxylene spot trade has thinned again following Lotte Chemical’s spot tender before Easter. Pricing was stable at $1,150/mt FOB ARA Chemical Industry.
S&P Global assessed M1 May and M2 June mixed xylene CIF ARA premiums to Eurobob gasoline stable on the day at $110/mt, above a value indication at $100/mt and below May offers heard at $120/mt and $130/mt (Chemical Industry). The June premium was kept at parity to May. May Northwest European paraxylene was stable at $840/mt FOB ARA, amid no disproving indications in thin trade. June was stable at $840/mt FOB ARA, maintaining parity with May. The paraxylene 5-30 day forward spot price was assessed as the average of the period at $840/mt FOB ARA, stable on the day. Orthoxylene was assessed at $1,150/mt FOB ARA, stable on the day amid no disproving indications (Chemical Industry).