Oman's OTI didn't send PX to Europe in June: source

Chemical News: Oman's OTI didn't send PX to Europe in June: source

https://www.chemnet.com Jul 06,2011 Platts
Oman Trading International wasn't among the companies potentially sending paraxylene from Oman to Europe in June, putting price pressure on supply in the region, a company source said Tuesday.

"Sometimes we do, but no, we did not [send PX to Europe in June]," the source said.

Last month, several PX market sources cited imports arriving from Oman as a reason why PX prices were lower in Northwest Europe.

At the end of May, spot PX prices in Northwest Europe were assessed at $1,545/mt FOB Rotterdam, while at the end of June the price had fallen $115/mt to $1,430/mt.

The OTI source added that most of his company's PX goes to Asia because the market there is much larger. He said that, while he does occasionally send PX to Europe, it is not very regular because the quantities European PX consumers generally need are 1,000-2,000 mt cargoes, while standard Asian cargoes are 5,000 mt cargoes.

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