16 October 2012 23:25 [Source: ICIS news]
HOUSTON (ICIS)--The contract price for US orthoxylene (OX) is expected to decline for November, market sources said on Tuesday.
Some sources said they were uncertain how much the decrease may be.
Other sources, however, said it is too early yet to anticipate the direction the November OX contract would take.
“It’s a little early to make projections on where the November OX contract may be headed. I have heard no reason for it to go short or long, and it just settled [for October],” said one market participant.
The US OX October contract was settled at a rollover from September at 67 cents/lb ($1,477/tonne, €1,137/tonne) FOB (free on board), as assessed by ICIS.
Meanwhile, US OX spot export prices were notionally higher by 1 cent/lb to 63-64 cents/lb in the week ended 12 October, based on higher Asian OX spot prices in the same week.
Major US OX producers include ExxonMobil Chemical and Flint Hills Resources.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections