US OX contract prices slip 1.5 cents/pound in December

05 December 2005 21:27  [Source: ICIS news]

BUENOS AIRES (ICIS news)--US orthoxylene (OX) producers said on Monday December contract price settlements had been reached at 36.5 cents/pound FOB, down 1.5 cents from November, due to the downward settlement in feedstock mixed xylenes (MX) contract price.

Last Thursday market sources said the December US MX contract price between a major buyer and its suppliers had settled down 5 cents/gal at $2/gal FOB.

By Friday, December OX settlement negotiations had kicked off, with one US buyer pushing for a 1-2 cent/pound reduction from the 38 cents/pound FOB level agreed to for November.

US OX producers had previously issued December nominations in a 38-42 cents/pound FOB range, with two suppliers actually proposing 2-4 cents/pound increases.

In the offshore market, a spot OX buyer recently claimed second half December material had been offered at 36 cents/pound FOB US Gulf.

By: Edson Jones
+1 713 525 2653

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