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NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”.

DMT

Dimethyl terephthalate (DMT) reference prices decreased by €57/tonne to €920-961/tonne FD NWE, in line with upstream developments and according to ICIS calculations.

PX

Following firmer sentiment in the Asian paraxylene (PX) market, European players are expecting PX prices to increase by €60–100/tonne in August, up from July’s €1,025/tonne FD NWE.

Methanol

There were two methanol trades at €270/tonne FOB Rotterdam in the European market this week. Market conditions are thought to be fairly balanced, with no noticeable decrease in demand despite it being the summer holiday season. Firmer European prices are attributed to upward movements in the US and Asian markets, which are both experiencing limited supply.

The Q3 contract price was agreed at €295/tonne FOB Rotterdam, down €10/tonne from the previous quarter.

PTA

European June purified terephthalic acid (PTA) prices moved down to €928–950/tonne FD NWE, a €26–27/tonne fall from May, in line with feedstock developments. The €85/tonne fall in July PX prices could result in a further €40/tonne decrease for July PTA, but this remains to be seen. PTA players are expecting PX prices to increase by €60–100/tonne in August.
 

($1 = €0.70)

(€1 = £0.88)

(€1 = Rb39.48)

This week in ICIS ( www.icis.com):

28/07/2011 18:50 Europe PET prices may increase for first time in three months

28/07/2011 12:27 Artlant begins testing 700,000 tonne/year PTA plant in Portugal

28/07/2011 05:55 Asian PET producers hike August offers on higher feedstock costs

27/07/2011 19:01 Suppliers prepare Europe MEG market for an August increase

27/07/2011 18:17 Europe August ethylene fully confirmed at €1,120/tonne