US OX contract settles down by 3.25 cents/lb in November

16 November 2012 21:08  [Source: ICIS news]

NEW YORK (ICIS)--The US orthoxylene (OX) contract was down by 3.25 cents/lb ($72/tonne, €56/tonne) in November on the back of lower related costs, sources said on Friday.

The November OX contract settled down at 63.75 cents/lb FOB (free on board), compared to the October contract price of 67 cents/lb FOB.

Some buyers said they expected the November contract to settle down because related costs are lower than they were in early October. One buyer said he had been pushing early in the month for an even lower price in the November contract.

Spot export OX prices remained steady at 64-65 cents/lb FOB, following a quiet week in the Asian OX market.

OX is primarily used to make phthalic anhydride (PA), a key intermediate in the production of plasticizers, which are used to make products such as flexible polyvinyl chloride (PVC).

Major US OX producers include ExxonMobil Chemical and Flint Hills Resources.

($1 =  €0.78)

By: Feliza Mirasol
+1 713 525 2653

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