AFPM ’12: US PX April contract projected lower

02 April 2012 23:00  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--US paraxylene (PX) April contract is projected to decrease following a drop in the April Asia Contract Price (ACP) for PX, a major PX producer and a buyer said on Monday on the sidelines of the International Petrochemical Conference (IPC).

According to the producer, the PX contract for April is likely to drop by 3 cents/lb ($66/tonne, ¢50/tonne), less than the buyer’s projected decrease of 4 cents/lb.

“PX is having a harder time in April than it did in March, but I see normal demand with no major changes compared with last year’s demand,” the producer said.

The April PX ACP settled at $1,585/tonne, $65/tonne lower from March, according to sources.

Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.

($1= €0.75)


By: Blanca Venegas

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