21 June 2012 19:13 [Source: ICIS news]
MIAMI, Florida (ICIS)--The US June paraxylene (PX) contract has been settled at 67.50 cents/lb ($1,488/tonne, €1,176/tonne), lower by 9.00 cents/lb from May, market participants said on Thursday.
The lower June contract is following the decrease in the Asian Contract Price (ACP) for PX, which was settled at $1,355/tonne, $195/tonne lower from the May PX ACP of $1,550/tonne CFR Asia.
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.
Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = €0.79)
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