US PX imports rose in Jan as exports declined

11 March 2008 20:43  [Source: ICIS news]

HOUSTON (ICIS news)--US buyers imported 25% more paraxylene (PX) in January year-on-year while exports of the aromatic solvent dropped 50%, the US International Trade Commission (USITC) said on Tuesday.

 

January PX imports were 149,412 cubic metres (cbm) compared with 119,140 cbm in the same month of 2007.

 

US imports of Venezuelan and Saudi PX more than doubled while imports from Iraq, Canada and Europe fell a combined 45%.

 

January PX exports totalled 71,938 cbm or 50% less than the same month a year earlier, according to the commission.

 

Only China raised its purchases of US PX during the first month of 2008 compared with a year ago, acquiring 12,155 cbm for a 119% increase over January 2007.

 

US PX values were assessed at 54.25 cents/lb ($1,196/tonne) during February, according to global chemical market intelligence service ICIS pricing.  

 

Market participants were still awaiting the settlement of a March PX contract price.

 

US suppliers of PX include Chevron Phillips, ExxonMobil and Flint Hills Resources.

 

($1=€0.65)

 

For more information on PX, visit ICIS Chemical Intelligence

By: Landon Feller
+1 713 525 2653

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