NewsFlashUS Feb OX contracts settle up 1 cts/lb

09 February 2006 20:40  [Source: ICIS news]

HOUSTON (ICIS news)--US February orthoxylene (OX) contract prices settled up 1 cent/pound at 41 cents/pound ($906 or Euro754/tonne) free on board (FOB) due to higher February mixed xylene (MX) contract prices, suppliers and buyers said on Thursday.

A major producer and a major buyer each confirmed the 41 cents/pound FOB contract settlement.

Some of the major players involved in OX contract negotiations include ExxonMobil, Stepan and Flint Hills Resources.

The February OX settlement is the third-highest contract price according to global petrochemical pricing and marketing intelligence service ICIS-LOR historical data. The September 2005 and October 2005 contracts were the first and second highest settlements at 43 cents/pound FOB and 48-50 cents/pound FOB, respectively.

February MX contract price settling up 20 cents/gallon at $2.50/gallon free on board (FOB) was a major reason for the increase in OX contracts. The February MX contract prices is the third-highest settlement according to ICIS-LOR historical data, behind the October 2005 and November 2005 settlements of $3.38/gallon FOB and $3.00/gallon FOB, respectively.

By: Aaron Goetze
+1 713 525 2653

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