US PX April contract may settle at 78.50 cents/lb on lower ACP
16 April 2012 18:28 [Source: ICIS news]
HOUSTON (ICIS)--The ?xml:namespace>US paraxylene (PX) April contract may settle at 78.50 cents/lb ($1,731/tonne, €1,316/tonne), following a lower April PX Asian contract price (ACP), a major US PX producer said on Monday.
The settlement would represent a 3.5 cents/lb drop from the March price of 82 cents/lb.
In Asia, the April PX contract settled at $1,585/tonne, down by $65/tonne from March.
The US PX contract price is usually settled in the first half of the month to which it applies, with the ACP providing a guide to price direction
PX is used primarily to make purified terephthalic acid (PTA), an intermediate chemical for polyethylene terephthalate (PET), which is commonly used for plastic bottles.
Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = €0.76)By: Blanca Venegas713-525-2653
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.