16 May 2012 21:24 [Source: ICIS news]
MIAMI, Florida (ICIS)--The US May paraxylene (PX) contract has been confirmed lower by 2 cents/lb ($44/tonne, €35/tonne) from the previous month, following price movements in Asia, sources said on Wednesday.
The May PX contract was settled at 76.50 cents/lb DEL (delivered) USG (US Gulf), a major producer and a buyer said.
The US PX contract price is usually settled in the first half of the month to which it applies, with the Asian PX Contract Price (ACP) providing a guide to price direction.
The May PX ACP was settled at $1,550/tonne, $35/tonne lower from April.
Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = €0.79)
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