US OX producers nominate 2-4 cent/lb Feb increases

19 January 2010 16:27  [Source: ICIS news]

OX nominations on the moveHOUSTON (ICIS news)--US orthoxylene (OX) producers nominated increases of 2-4 cents/lb ($44-88/tonne, €30-61/tonne) for February contracts, sources said on Tuesday.

ExxonMobil targeted 50 cents/lb and Flint Hills Resources (FHR) nominated 52 cents/lb, according to a buyer and seller involved in the contracts. The mid-month contract nominations compare with the January benchmark of 48 cents/lb, according to global chemical market intelligence service ICIS pricing.

The increased nominations come amid steady pricing in the US Gulf mixed xylenes (MX) spot market, but an OX producer said that the lack of spot MX and OX availability could send values up in a hurry.

The producer said it continues to make OX to meet contractual obligations and staying out of the spot market.

Major US producers of OX include ExxonMobil and FHR, while Stepan and BASF are large US buyers.

($1 = €0.69)

For more on orthoxylene (OX) visit ICIS chemical intelligence
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