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)
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