US May MX contract settled partially higher

29 April 2008 21:41  [Source: ICIS news]

HOUSTON (ICIS news)--The May mixed xylene (MX) contract was partially settled at $3.49/gal ($1,047/tonne) for a gain of 9-14 cents from April settlements, trade sources said on Tuesday.

Producers confirmed the increase, which was attributed to rising spot prices and recent record highs in the NYMEX energy complex.

US aromatics traders said they expected another MX contract settlement soon.

Current MX spot prices were at $3.50-3.53/gal FOB (free on board) HTC (Houston-Texas City), up from 3.30-3.40/gal FOB HTC, according to global chemical market intelligence service ICIS pricing. 

Major US xylene producers include BP, Flint Hills Resources and Chevron Phillips Chemical.

By: Brian Balboa
+1 713 525 2653

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