US OX August contract up by 6 cents/lb

09 August 2012 17:19  [Source: ICIS news]

MIAMI, Florida (ICIS)--The US orthoxylene (OX) August contract has been settled at a 6 cent/lb ($132/tonne, €107/tonne) increase from July, market participants said on Thursday.

The OX August contract reached a settlement price of 65 cents/lb, following an increase in the upstream US mixed xylene (MX) August contract, sources said.

According to market participants, the US MX August contract was settled at $3.70/gal, higher by 5.82 cents/lb from June. However, confirmation for the US MX June and July prices 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 = €0.81)

By: Blanca Venegas

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