US PX May contract falls 4.5 cents/lb from April

16 May 2011 16:15  [Source: ICIS news]

HOUSTON (ICIS)--The US paraxylene (PX) May contract price was concluded at a decrease of 4.5 cents/lb ($99/tonne, €70/tonne) from April, a buyer confirmed on Monday.

Earlier, a seller said that the May contract had been settled at 81 cents/lb DEL (delivered), down from the April price of 85.5 cents/lb, but this was not confirmed by other market participants at the time.

There is no indication that a split settlement is likely to emerge this month, as happened in the case of the March contract.

The Asia contract price (ACP) for May was finalised at $1,605/tonne CFR (cost and freight) Asia, down $85/tonne from April.

Since early 2010, US contract price movement has tracked the ACP delta to within $50/tonne.

($1 = €0.71)

For more on paraxylene, visit ICIS chemical intelligence

By: Samuel Weatherlake
+44 20 8652 3214

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