Initial April US OX up 2.5 cents - producer

04 April 2008 23:19  [Source: ICIS news]

HOUSTON (ICIS news)--Initial US April orthoxylene (OX) contracts moved up 2.50 cents/lb to settle at 54.50 cents/lb ($1,202/tonne or €769/tonne), a producer said on Friday.

The FOB (free on board) US Gulf (USG) settlement was an even compromise between suppliers who had nominated 5 cents/lb hikes and buyers who called for a rollover.

Downstream product phthalic anhydride (PA) was subject to the March OX increase of 4 cents/lb, but could see an additional 3 cents/lb in April  as suppliers seek to improve margins with a manufacturing fee.

US OX producers include ExxonMobil and Flint Hills Resources. The main OX buyers are BASF, Stepan and Koppers.

($1 = €0.64)

For more on OX visit ICIS chemical intelligence

By: Landon Feller
+1 713 525 2653

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