US OX August contract projected 3-5 cents/lb higher

31 July 2012 22:00  [Source: ICIS news]

MIAMI, Florida (ICIS)--The US orthoxylene (OX) August contract is projected to increase by 3.00-5.00 cents/lb ($66-110/tonne, €54-90/tonne), a contract participant said on Tuesday.

The OX contract usually settles early in the month, after the MX contract has been finalised.

According to US MX market participants, the US MX August contract has been settled at $3.70/gal.

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

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

($1 = €0.82)

By: Blanca Venegas

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