June US paraxylene nominations still pending

20 May 2005 20:54  [Source: ICIS news]

HOUSTON (CNI)--June US paraxylene (PX) contract price nominations had yet to be issued, CNI has learned.

 

Two North American contract players acknowledged June nominations were still pending. One source commented producer nominations for the following month traditionally circulate on, or shortly after, the 15th of each month. Delays tend to occur during times of market uncertainty, when sellers demur hoping to glean further insight from spot PX prices and feedstock values, according to the source.

 

Feedstock mixed xylenes (MX) prices hovered in the mid-to-high $1.80s/gal free on board (FOB) US Gulf (USG), with June spot trades reported recently at $1.87/gal FOB USG and at $1.85/gal. The May US mixed xylenes contract stood at $1.85/gal.

 

But the US spot PX arena has provided little guidance, with trading virtually shut down at times and literally no fresh bid/offer indications reported in circulation. Notional June spot PX values were reported at $675-685/tonne FOB USG.

 

May US PX settlements were reported at 40 cents/pound DEL, down 4.5 cents/pound from the April level.

By: Edson Jones
+1 713 525 2653

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