The June contract price for orthoxylene in Europe has been fully settled at Eur695/mt ($775/mt) FD NWE, industry sources confirmed Friday.
The settlement represented an increase of Eur30/mt month-on-month.
OX consumers have historically received a discount of around $60-$80/mt from their gross contract price, which would put a net contract price at around $695-$715/mt.
The rise in the monthly contract price came with tight spot supply of OX in the region. With industrial action continuing in France, OX supplies remained disrupted from French facilities.
Total declared force majeure last week on OX loadings from the Gonfreville facility in Normandy.
Spot OX prices in Europe were last assessed at $744.50/mt FOB ARA Thursday, at around a premium of 4% and 7% to the assumed net contract price.
Europe remains the lowest-priced region, with the Chinese OX price hovering in high $700s/mt, whereas US prices stood at above $800/mt.
