US May OX contract heard lower by 3 cents/lb

07 May 2012 21:36  [Source: ICIS news]

MIAMI, Florida (ICIS)--The US orthoxylene (OX) May contract has been heard lower by 3 cents/lb ($66/tonne, €50/tonne) at 68 cents/lb, sources said on Monday.

According to a buyer, the OX market is expected to be balanced and more dynamic, now that the force majeure (FM) on OX by a major producer has been lifted and the downstream phthalic anhydride (PA) plant has finished its turnaround.

The April OX contract was settled at a rollover from March at 71.00 cents/lb.

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

($1 = €0.76)

By: Blanca Venegas
713-525-2653

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