US March OX contract rises 2 cents/lb on feedstock

12 March 2012 19:57  [Source: ICIS news]

HOUSTON (ICIS)--The US March orthoxylene (OX) contract rose by 2 cents/lb, a buyer said on Monday.

The settlement brings the contract to 71 cents/lb ($1,565/tonne, €1,189/tonne) FOB (free on board) for March, up from 69 cents/lb FOB in February.

The increase followed a hike in the upstream mixed xylene (MX) March contract, according to industry sources.

The OX contract usually settles after the mixed xylene (MX) contract has been concluded. The March MX contract settled at $4.34/gal, up by 13 cents/gal from the February price of $4.21/gal.

OX is primarily used to make phthalic anhydride (PA), a key intermediate in the production of plasticisers, which are used to make products such as flexible polyvinyl chloride (PVC).

Major US OX producers include ExxonMobil Chemical and Flint Hills Resources.

($1 = €0.76)

By: Blanca Venegas

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