US PX contract settles up 1.5 cents/lb in November

16 November 2012 20:16  [Source: ICIS news]

NEW YORK (ICIS)--The US paraxylene (PX) contract has settled up by 1.5 cents/lb ($33/tonne, €26/tonne) in November, market sources confirmed on Friday.

The November PX contract was settled at 76.5 cents/lb, compared with 75 cents/lb in the October contract price.

In Asia, the PX Asian Contract Price (ACP) remained unsettled as no agreements were reached between all ACP negotiating parties. The US PX contract price follows trends in the ACP.

PX is primarily used to make purified terephthalic acid (PTA), an intermediate chemical used in the production of polyethylene terephthalate (PET). PET is largely used to make plastic bottles.

Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.

($1 = €0.78)

By: Feliza Mirasol
+1 713 525 2653

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