November nomination for US OX contract up by 8 cents/lb

26 October 2012 19:21  [Source: ICIS news]

HOUSTON (ICIS)--US orthoxylene (OX) producers nominated an eight cent ($176/tonne, €136/tonne) contract increase for November, market sources said on Friday.

Producers nominated the November OX contract at 75 cents/lb, compared with 67 cents/lb FOB (free on board) for October.

However, a buyer said the November contract would likely settle at a decrease.

“My guess is 65 cents/lb,” he said.

Meanwhile, spot export prices in the US were assessed notionally down by 1 cent/lb to 64-65 cents/lb FOB based on weaker spot prices in Asia this week from poor demand in the downstream phthalic anhydride (PA) sector.

OX is the principle feedstock for 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 = €0.77)

By: Feliza Mirasol
+1 713 525 2653

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