US December MX contract falls 13 cents/lb on low demand

01 December 2011 21:56  [Source: ICIS news]

HOUSTON (ICIS)--The December mixed xylene (MX) contract concluded at $3.47/gal, down by 13 cents/gal from the November price of $3.60/gal alongside a lower December benzene contract, a participant said on Thursday.

Meanwhile, MX spot prices were heard at $3.40-3.65/gal FOB (free on board) on Wednesday with bids moving lower, compared with $3.50-3.65/gal FOB on 18 November.

The weaker MX contract comes a day after the US December benzene contract settled at $3.00/gal FOB, down 15 cents/gal from November on the back of ample supply and weak demand, market participants said.

Major US xylene producers include BP, Chevron Phillips, ExxonMobil, Flint Hills and LyondellBasell.

 ($1 = €0.74)

For more on MX visit ICIS chemical intelligence

By: Blanca Venegas

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