NWE orthoxylene Dec CP split settles at Eur885/mt, down Eur5/mt on month

The Northwest European orthoxylene contract price for December split settled at Eur885/mt ($1,003.65/mt), down Eur5/mt from the November settlement, sources said Dec. 23.

A seller reported a settlement at Eur910/mt, while two CP buyers who were not directly involved in the process said the final settlement was split at Eur885/mt. One of the buyers also reported that the split settlements was a result of Eur885/mt and Eur910/mt settlements.

Another buyer said they were not able to reach an agreement or finalize discussions with their counterparts.

A trader also corroborated the split settlement of Eur885/mt.

S&P Global Platts last assessed the European OX spot price at $1,025/mt FOB ARA on Dec. 23, stable on the day and also unchanged from Nov. 30.

The spot market for December was tight while demand was strong, according to sources. A trader also told Platts that customers were slow to accept high spot prices.

The Platts Orthoxylene FOB ARA spot price has averaged $1,025/mt for December compared with the $976.14/mt November average. The December CP settlement reflected a 2.1% discount to average November spot prices in Europe.