US April MX contract falls by 10 cents/lb

05 April 2012 22:58  [Source: ICIS news]

HOUSTON (ICIS)--The April mixed xylene (MX) contract concluded at $4.24/gal (€0.85/litre), down by 10 cents/gal from March price because of a lower April benzene contract, a market participant said on Thursday.

The US April benzene contract settled at $4.12/gal, down by 11 cents/gal from March, following weak demand from the styrene market, sources said.  

Benzene is a key aromatic that can drive prices in other aromatics like xylene and toluene.

Meanwhile, MX spot prices were heard at $4.25-4.34/gal, compared with $4.15-4.25/gal on 29 March.

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

($1 = €0.76)

By: Blanca Venegas

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