18 January 2011 16:40 [Source: ICIS news]
HOUSTON (ICIS)--The US paraxylene (PX) January contract settled up by 7 cents/lb ($154/tonne, €116/tonne) from December because of rising Asia PX prices and tight US supply, sources said on Tuesday.
The January contract price was fully settled at 70 cents/lb DEL (delivered), according to buyers and sellers.
The US PX market typically follows price movements in Asia.
The January PX Asia Contract Price (ACP) finalised at $1,380/tonne CFR Asia, up $105/tonne from December’s contract price.
PX spot prices in Asia bolted up $139/tonne in the past week.
ExxonMobil company officials declined to comment on the specifics of the issues and it was unclear when supply would be restored.
No other production issues were detected in the US market.
Other US PX producers include BP Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = 0.75)Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections