19 December 2005 22:14 [Source: ICIS news]
BUENOS AIRES (ICIS news)--A US orthoxylene (OX) consumer said on Monday that January OX contract price nominations have been issued in a 40-41.5 cents/pound FOB range ($881.6-914.66/tonne or Euro734.6-762.2/tonne).?xml:namespace>
This represents an increase of some 3.5 cents/pound over the December settlement, due to stronger spot US feedstock mixed xylenes (MX) prices.
Sources close to OX producer Flint Hills Resources confirmed a January nomination was issued at 40 cents/pound FOB. A consumer said Citgo Petroleum and ExxonMobil had respectively nominated January at 40.5 cents/pound FOB and 41.5 cents/pound FOB. It was not clear whether consumers will accept the proposed prices increases.
Spot MX prices jumped by about 12-13% between late November and mid-December, with prices reaching as high as $2.20-2.25/gal FOB USG early in the week of 12-16 December, on the back of stronger blend values.
In the meantime, offshore consumers interested in purchasing December-January material reported US Gulf spot OX prices in the vicinity of 36-36.5 cents/pound FOB.
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