US August PX contract rises 7 cents/lb from July – producer

10 August 2011 20:07  [Source: ICIS news]

HOUSTON (ICIS)--The US paraxylene (PX) August contract price was concluded at an increase of 7 cents/lb ($154/tonne, €108/tonne) from July, a major producer said on Wednesday.

The August price was settled at 77 cents/lb DEL (delivered), up from the July price of 70 cents/lb DEL, the source said.

“I can’t confirm, but we were all expecting 77 [cents/lb] (or 76.5),” was the response of one buyer, who expected to have more information tomorrow.

The Asia Contract Price (ACP) for August PX was settled up by $140/tonne from July at $1,540/tonne CFR (cost and freight) Asia.

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

($1 = €0.70)

For more on paraxylene, visit ICIS chemical intelligence

By: Samuel Weatherlake
+44 20 8652 3214

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