US OX June contract settles 4 cents/lb lower

08 June 2012 19:02  [Source: ICIS news]

MIAMI, Florida (ICIS)--The US orthoxylene (OX) June contract has been settled at 64.00 cents/lb ($1,411/tonne, €1,115/tonne), lower by 4.00 cents/lb from 68.00 cents/lb in May, market participants said on Friday.

An exporter said the decrease in the June contract comes on the back of weaker feedstock prices in the US and demand slowdown in China.

The OX contract usually settles after the mixed xylene (MX) contract has been concluded.

Confirmation on the US MX June contract is still pending.  

OX is primarily used to make phthalic anhydride (PA), a key intermediate in the production of plasticisers, which are used to make products such as flexible polyvinyl chloride (PVC).

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

($1 = €0.79)

By: Blanca Venegas

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