US PX initially settles dn 4.25 cts to 66 cts/lb

09 October 2008 21:32  [Source: ICIS news]

HOUSTON (ICIS news)--US paraxylene (PX) for September delivery has partially settled at 66 cents/lb ($1,455/tonne, €1,062/tonne), down 4.25 cents/lb from the August price of 70.25 cents/lb, sources said on Thursday.

At least two buyers – Chevron Phillips, which has not agreed to a monthly settlement in several months, and Eastman – had not agreed to the new contract price, a producer said.

Weaker feedstocks pushed PX prices lower, sources said.

Major producers of PX in the US include Flint Hills, Koppers and Stepan.

($1 = €0.73)

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By: David Rosen
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