21 February 2012 21:54 [Source: ICIS news]
HOUSTON (ICIS)--The US paraxylene (PX) February contract rose by 7 cents ($154/tonne, €117/tonne) from January in the wake of higher Asia prices and upstream mixed xylene, industry sources said on Tuesday.
The contract settled at 79 cents/lb.
The US PX contract price is usually settled in the first half of the month to which it applies, with the Asian PX Contract Price (ACP) providing a guide to price direction.
The February PX ACP was fully settled at $1,590/tonne CFR (cost and freight) Asia, up by $145/tonne from January.
Also, the upstream US MX contract for February rose by 39 cents to $4.21/gal.
Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = €0.76)
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